But probably not in obvious ways.
I read a lot of stuff, and often get great ideas by reading things that are from sources that are pretty widely disparate.
Here’s one – a discussion of unemployment by Reuters writer James Pethokoukis:
Gluskin Sheff economist David Rosenberg, formerly of Merrill Lynch, thinks the unemployment rate is going to at least 12 percent, maybe even 13 percent. Optimists, Rosenberg explains, underestimate the incredible damage done to the labor market during this downturn. And even before this downturn, the economy was not generating jobs in huge numbers.
Read the whole thing and be very, very depressed.
On the other hand, there’s this:
The culture of participation is forcing efficiencies that can have deflationary effects on our economy. This allows us to purchase more with less, but also gives us less to purchase with, if it is forcing upon us lower wages and fewer work hours. What it may give us is *more free time* (whether we want it to or not). So if that free time is part of what allows this culture of participation to help create these efficiencies, and the efficiencies create more free time… Then you have not just deflation, but a deflationary spiral that doesn’t end until the traditional economies (based on real scarcity) have absorbed the new efficiencies.
That’s both depressing – and interesting as the ecology is left open to smaller, faster-breeding businesses.
We’ve seen how that drama works out before…