They were also disregarding the real true unemployment rate… - John Komlos

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They were also disregarding the real true unemployment rate... even in January of 2016, among African Americans 16%... were unemployed... so this is not full employment... and by education, among African Americans [those who did not finish high school] 32% were unemployed. Now you know why the George Floyds get into trouble with the law. They are not able to find their place in the legal labor market. ...So this is what Marty Feldstein and Donald Trump think of [as] a good economy. Not in my view!

John Komlos

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About John Komlos

(born 28 December 1944) is an American economic historian of Hungarian descent and former holder of the chair of economic history at the University of Munich.

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Originators like John Komlos:

Ha-Joon Chang Joseph E. Stiglitz Kate Raworth Paul Krugman Friedrich Hayek

Additional quotes by John Komlos

[M]ainstream economics is fundamentally flawed [and] ignores the elephant in the room, which is the real existing economy.

My focus is on real human beings... rather than inanimate objects... as money or abstract concepts... which economists often substitute for the human dimension.

[P]er-capita income can be an ambiguous measure of welfare during the early stages of economic development unless it moves in the same direction as the biological standard of living...

They were also disregarding the real true unemployment rate... even in January of 2016, among African Americans 16%... were unemployed... so this is … - John Komlos

About John Komlos

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