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Jobs, Jobs, Jobs

Ignacio Hernandez's picture

The December issue of Poverty in Focus, the magazine published by UNDP's International Poverty Centre, is out. This issue is fully devoted to the linkages between employment, economic growth and poverty reduction.

"What is the role of employment in the nexus of economic growth, poverty reduction and progress towards achievement of the UN Millennium Development Goals? Although employment is not an explicit component of the MDGs, it has a key role in economic and social development.

As labour is the main resource that most poor people are endowed with, labour intensive growth is the most effective way to reduce poverty. Employment is the key source of income, consumption and other material aspects of improved livelihoods. Moreover, it enhances also other dimensions of wellbeing including skills, physical abilities and self-respect."

Access the full issue on-line: Jobs, Jobs, Jobs - The Policy Challenge


Just think about what those in Wall Street could be asking for if only they really knew what they were talking about… They could for instance be asking for capital requirements based on job creation ratings, because, if as tax payers we are to be the ultimate pick-uppers of any bank crisis, then we should at least be certain that the purpose of the banks is acceptable to us. Right now, the only purpose for the banks that the regulators have de-facto defined, by means of allowing ridiculous low capital requirements for banks when lending to what is ex-ante perceived as not risky, and which allows immensely high leverage of bank equity, is for the banks to make huge profits… and that, as purposes come, seems a bit vulgar and dumb, to say the least. (Dumb because never ever do systemic bank crises occur as a result of excessive exposures to what is perceived as “risky” they only result from excessive exposures to what is ex-ante perceived as “not-risky” and which is in fact the only thing that has the ability to generate huge unpleasant surprises.) If you allow me here is a video explaining current regulatory madness it in an apolitical red and blue!

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