David Blanchflower on the Failures of the Labor Economy

The video discusses a book on the failed labor economy, emphasizing the changes since 2008. It highlights the low wage growth and the mistakes of policymakers. The author suggests allowing the economy to reach full employment and subsidizing work to address issues. The video also compares global policies, noting Germany's relative success.

What major event in 2008 significantly altered the labor economy, according to the speaker?

• A technological revolution

• The introduction of new labor laws

• The global financial crisis

• A major political shift

What is the main issue with the current state of employment, as discussed in the second section?

• Overemployment

• Underemployment

• Lack of technological advancement

• Excessive wage growth

What does the speaker suggest as a solution to improve the labor market?

• Focus on reducing government spending

• Increase taxes on corporations

• Subsidize work and lower labor costs

• Implement stricter employment regulations

Which country is mentioned as having a relatively successful approach to labor market policies?

• Germany

• United Kingdom

• France

• United States

What is a key factor that the speaker believes policymakers misunderstood about the labor market?

• The influence of social media

• The concept of full employment

• The role of education in employment

• The impact of globalization