Monday, January 13, 2014

Are Americans Going Galt?

Independent Women's Forum (IWF) ^ | 12 Janaury 2014 | Charlotte Hays 

Ninety-two million Americans are not in the work force—they don’t have jobs and they aren’t looking for jobs.
These 92 million Americans aren’t just out of work—they are resigned to being out of work as a way of life.
The ballooning numbers of Americans who are resigned to long-term joblessness inspired Roger L. Simon to suggest in a bleakly humorous piece over at PJ Media that Americans are going Galt:
Tell all your “Objectivist” friends and the libertarian gang at Reason magazine to break out the champagne. Americans may have skipped the movie of Atlas Shrugged, nor have many read any of Ayn Rand’s works, but they have taken the author’s advice anyway and gone John Galt, quitting the work force in record numbers. According to Zero Hedge, the latest figures show the labor participation rate at 35 year low.
Realistically, it’s even more than 35 because that figure reflects an employment bump when larger numbers of women joined the work force in the seventies and eighties. (They’re gone now, with or without Gloria Steinem.)
Currently a record 91.8 million Americans are no longer looking for work. That’s almost one and a half times the entire population of France.
We are heading for a disaster. A shrinking workforce won’t be able to pay for the nation’s vast array of entitlements. Moreover, many of these non-working adults, men and women who in previous generations would have met their own financial needs, are now receiving assistance. This is an unsustainable economic situation.
But this situation is not merely economically unsustainable. It is spiritually unsustainable: 
(Excerpt) Read more at iwf.org ...

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