Comment on Open Thread, May 19 - 25, 2014

Wed, 21 May 2014 00:07:13 GMT

The labor force of the 1930s was sapped by over-allocation in unproductive industries. Specifically, much of the labor share was occupied in the sitting around feeling depressed and wishing you had a job industry. Economic conditions improved as workers shifted out of that industry and into more productive ones, such as all of them.

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