Publisher's Synopsis
In the mid-1970's the world economy underwent a major paradigm shift-and while economists disagree over why-all agree with Dr. William F. Mitchell that "High and persistent unemployment has pervaded almost every OECD country since the mid-1970's" [with double digit unemployment common in the Eurozone to this day, and youth unemployment north of 25% in Greece and Spain]. As a result of high unemployment in the 1970's, America swung into action--and in 1978 Congress passed, and President Carter signed into law a "legal authorization" to henceforth limit America's unemployment rate to "3%" [15 USC 3101-i.e., at no time should our unemployment exceed 3%, as provided by law]. With a ton of cash, however, the 1% has inexplicably prevented this law from ever being implemented. Full employment is a pro-market solution, and given "automation," alone, this law is indispensable to the effective functioning of our 21st Century economy. The purpose of this book is to urge the enforcement of this concept [currently HR 1000, in Committee].
