By Tim Iacono (Guest Post)
As the nation laments the dim prospects for its labor market on this Labor Day, we see another example of how the fundamental problem behind the bleak jobs picture fails to be understood, this story by Zachary Roth at The Lookout regurgitating what passes for conventional wisdom these days when it comes to root causes, citing a lack of consumer demand (irrespective of how the prior demand levels were attained) and providing more evidence that conventional wisdom is often wrong. “Right now, what’s holding back the economy is a lack of demand, in the form of consumer…
***This is a preview. Please click on the post title or go to http://www.econmatters.com for full content. ****
