Archive for July 11, 2012
Employment hasn’t been recovering at a high enough rate satisfy anyone. Return to full employment will likely take more than a few years. Many have been complaining about this, so here are a few radical ideas to create jobs. I don’t think there’s any question they’d work for that purpose. But I can anticipate a lot of opposition.
- Require that businesses shorten their average work week by a minimum of five hours, setting the American “standard” work week to 35 hours. Provide tax incentives for going beyond that, by as much as an additional five hours, lowering the work week to 30 hours.
- Remove the age requirement for Medicare, to allow all Americans to get on a single-payer health care system, and allow employers to drop all insurance coverage.
- Lower the retirement age for Social Security to 60. Encourage Americans to retire earlier.
It may not be obvious how these measures could create jobs. They could lead to full employment, virtually overnight, give a jolt to the economy such as America has never seen, make us all healthier, and give us a lot more free time. Let me explain. (more…)