What Today’s Nobel Says About the US Unemployment Crisis

Peter Diamond, co-winner of the 2010 Nobel Prize for Economics, is congratulated by colleagues. (Brian Snyder/REUTERS)

Why doesn’t the unemployment rate ever reach zero? Economists, who generally believe that supply tends to meet demand, long pondered this question. Even in good times, i.e. not now, there are people who can’t find …

Can policymakers revive the stalled recovery?

More than two years have passed since the collapse of Lehman Brothers, and we’re still waiting for the true end to the financial crisis. Sure, officially, the numbers tell us that the Great Recession is over. But the recovery that we find ourselves in isn’t deserving of the name. Unemployment in the developed world remains …

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