What lessons can we draw from the Great Depression for the Great Recession?
What We Can Learn From E. Wight Bakke: Recovery without jobs is no recovery.
As part of the Roosevelt Institute’s series on the Jobs Crisis, running on the New Deal 2.0 blog from Nov. 12-30, Alice O’Connor was asked to reflect on what can be done to get Americans working again. Here’s her take.
In 1940 Yale Professor of Economics and Director of Unemployment Studies E. Wight Bakke published a pair of volumes titled The Unemployed Worker and Citizens Without Work, reporting the results of a remarkable eight-year study of unemployed workers and their families in Depression era New Haven. Seventy years later, the study’s analysis still resonates, and never more so than in light of this month’s unemployment figures showing jobless rates in the double digits, where they are expected to stay for the next couple of years.
Read the rest at: HuffingtonPost.com.