I woke up about three o’clock this morning realizing how much our thinking is imprisoned by the language of others. Case in point ‘Jobless Recovery.’ Even smart people like Thom Hartmann and Economics professors use the term.
Wikipedia defines jobless recovery or jobless growth as “…a phrase used by economists, especially in the United States, to describe the recovery from a recession which does not produce strong growth in employment.”
I think the idea of a jobless recovery just shows how screwed up our thinking is. Why is a recovery only measured by growth in the GDP, or rise in stock prices? If people aren’t working, then it doesn’t matter if the Dow is over 10,000. The economy is still sick.
Calling what we are in a ‘jobless recovery” is like calling a glass of orange juice a “vodka-less screwdriver,” or an empty platter a “meatless pot roast.”