Tuesday, February 09, 2010

Contrasting views of unemployment

Governor Patrick Honohan's view on the current economy, in particular the graduate labour market, is linked here  I can't agree with the overall thrust of this. It is surely, as pointed out, up to young people themselves to find their way in the world. But the migration channel implicitly advocated by government policy is just not working at the moment and we are pumping borrowed money into creaking institutions designed to support the labour market and distribute social benefits. We are doing this without any thought or debate and needlessly hampering the integration of a cohort of young people into the labour market. Professor Honohan concludes by telling the assembled graduates that "it is for us in the older generations to re-establish the conditions for this stable growth". Perhaps a better lesson from the last five years is that the older generations in Ireland have run out of ideas and need some fresh thinking.

One member of the younger generation, Ronan Lyons, outlines the scale of the unemployment issue here 

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