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Friday, December 5, 2014

CATO Institute

Made a trip yesterday with four students to the CATO Institute for a conference on "The Future of US Economic Growth". Some people said it doesn't look good. Others said people have said that for years, and the future looks bright. All agreed we don't have a clue on being able to reliably forecast it.

One high value statistic was the fact that in 1960 1 in 20 prime aged males between 25-54 were out of the labor force. Today it is 17% and rapidly approaching 1 in 5. If they are not in the labor force, then what are they doing?


EconPirate said...

They're competing with their female cohorts who largely weren't a part of the labor force 5 decades ago.

Anonymous said...

That and there is a lot of research done showing a large portion of men are now claiming disability.

Randall Parker said...

Throw in illegal drug activity and I think we are converging to an answer.

EconPirate said...

Also, as it's related to the labor market, I believe that the 'recovery' is, in some sense, similar to Shakespeare's 'rose' in "Romeo & Juliet".