Re: Big Government Libertarianism (Glenn Loury & Jim Pinkerton)
Interesting. I wonder about Pinkerton's comments about the relative uselessness of a college education. The latest "recession" shows a greater number of persons without college education being laid off than college grads. I believe the percentage of unemployed college grads is 4%, while those without a college education is around 11%.
The primary reason that college education is stressed in this country comes from the demand side (which strangely enough you would think would be supported by Pinkerton). People want the college degree and know that it's an entry to a better job and better economic life in the US. They don't want to spend their lives chasing after the 60% of the low-level jobs available and the risk of often coming up on the short end when the economy drops.
On the positive side, Pinkerton's one minute synopsis of the problems with the new left and new right nostrums for the economy seem spot on to me. There is a need to get innovation and production of valuable goods back on track in this country. Where are the infrastructure jobs?