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...similar to the ones they had lost. But 1930s joblessness was structural. The jobs people lost - largely in agriculture - never came back. Workers had to move to the industrial sector, a transition helped by the demands of a war. It was massive national hysteresis. Sound familiar? "A lot of the jobs that have been lost will never come back," the Peterson Institute's Kirkegaard says. Which means that hiccup in Okun's law is a warning: growth alone won't employ America again...
...create real jobs using this approach," says Harvard professor Roberto Mangabeira Unger. In the 1930s, you could throw 10,000 people with shovels at dam or road projects. Today the work of 10,000 shovels is done by a few machines - and it was a lot easier to persuade farmers to switch to ditchdigging than it would be to get laid-off hedge-fund traders to switch to sewer repair, appealing as such an idea might be. (See pictures of the global financial crisis...
...talk a lot about how the year of no impact actually improved the quality of your family's life. How? Michelle: Before the project started, I was really heavily into a diet of high-fructose corn syrup. My life was very much determined by having screens all around me, all the time. I was a major TIVO user, totally addicted to sugar and reality TV. I was just a high-consuming member of the high-consuming lifestyle. And I think that I was just asleep to the toll, in terms of my health, in terms of not being with...
...long before Obama started talking about how green is the new gold, many corporations discovered that business was about a lot more than a profit-and-loss statement. At first, the corporate stance was defensive: companies were punished by consumers for unethical behavior. In the 1990s, companies like Nike and Walmart were attacked for discriminatory and unfair labor practices. People became alarmed about "blood diamonds," or "conflict diamonds" - gems mined in war zones and used to finance conflict in Africa. More recently, consumers have become concerned about the sourcing of metals used in computers. The nexus of activist groups, consumers...
...increase their costs when every bill that's out there would lower them, or that this is going to mean that they lose their doctors, or their health care is rationed, or, you know, all the other things that they're worried about, it leads me to spend a lot of time thinking about how can I describe this in clearer terms so that we can get the health care that the American people deserve...