Epstein on Employment as a Human Right
Today’s economic trends are not promising. In the United States, the European community and Japan, the prospect of dismal growth is too often met with desperate measures that only make matters worse. There are endless claims about the failure of austerity to spur growth, and impassioned attacks on the folly of unbridled spending that will drown the nation in debt. What a choice!
The debate over the proper level of government spending and taxation is itself a powerful cause of our current economic malaise. The current uncertainty over the use of these key policy levers leads to further uncertainty about the possibility of a rise in interest rates that will send the economy into a tailspin. Unstable currency injects a gratuitous element of uncertainty into every private transaction denominated in dollars. That uncertainty is a