..extraordinary rates of emigration among young people in Europe’s disaster economies — not really a surprise when you consider the incredible levels of youth unemployment. But as she says, once those young people are gone, who will pay the taxes to support retirees?
The above is asserted by Krugman WRT Eurozone, but let's reflect this on the current US Labor Policy:
How much worse it gets, beyond the immediate run, when policy rather forces those well EMPLOYED to move out! and those left do not have quite the skills and function experience to fill precisely those quasi/technical roles? Forced exodus of experienced H1B's manning quasi/technical positions, upon killing their Green Card apps on one excuse or the other, will have an even worse effect than what Krugman is speculating for Europe where but the unemployed are moving out.
To this blogger, the current US Labor, Immigration, Taxation policy is a desperate short term report card management (unemployment and fiscal deficit numbers), potentially ruinous for the medium and longer term: More.
As for Dr. Krugman's piece on Europe:
How would it be better that, in Europe's "disaster economies", those employed have to fund support for both: the Retired AND the Unemployed!?
Nay, (voluntary) mobility of the unemployed, to lands where there is work, is the relatively better phenomenon than if they stayed put.
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