Economists may not agree on much, but we all agree that economic output is a function of capital and labor. Ask a Keynesian, a Marxist, an Austrian, a monetarist, or any economist, and they’ll all agree that living standards are determined by the quality and quantity of these two factors of production.
So it should be very worrisome that there has been a big drop in the share of the population that is employed. Here’s a chart produced from Bureau of Labor Statistics data, showing labor force participation during the 21st Century.
- Quotes of the day Allahpundit 10 hours ago
- Video: Sharyl Attkisson wants to know where the illegal immigrant children have gone Jazz Shaw 11 hours ago
- Video: Cruz presser at AFP summit Ed Morrissey 13 hours ago
- Video: Pete Hegseth on VA scandal, ISIS threat at AFP’s Defending the Dream summit Ed Morrissey 14 hours ago
- California Dem moves to outlaw some civilian body armor Jazz Shaw 16 hours ago
- Don’t count Rob Ford out just yet Jazz Shaw 17 hours ago