Work? Not Today, Thank You

akcs-www Ah but we have all kinds of kids well schooled in ethnic studies, political science, international relations, Renaissance poetry and other useful fields. Of course they are also loaded down with student loans, their contribution to the lifestyles of college administrators, football coaches and the like.

20% of families in the US have no-one working (employed, self-employed or even unpaid). 15% of aggregate personal income comes from government transfers. Admittedly, Europe is worse – Angela Merkel never tires of saying that Europe has 7% of the world’s population, 25% of its GDP and 50% of its social spending. Many countries in Europe have youth unemployment over 50%, despite the broad availability of university education. At least she understands there’s a problem.

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