Ben Bernanke Quotes
In any given month, a large number of workers are being hired or are leaving their current jobs, illustrating the dynamism of the U.S. labor market.
Bernanke, Ben S. "Recent Developments in the Labor Market." National Association for Business Economics, Washington, D.C., 26 Mar. 2012.
This is a statement that in the early 21st century would be made only by ultra liberals. But in the in the late 1940’s this was not only standard democratic party thinking, but a large number of Republicans thought of the Government as the employer of last resort including their Presidential standard bearer.
The existence of a groups of de facto “unemployable” people has been with our country since its inception. However over time, the cadre of unemployable people has changed as the simple jobs are lost to automation and computerized solutions and the jobs that are left require an extensive education and skills set. While the New Deal programs helped reduce the numbers of unemployable people, and WWII required such great production, by the 21st century, the “unemployable” population had grown substantially and proportionately from 1936.
Ben Shalom Bernanke is an American economist at the Brookings Institution who served two terms as the 14th Chair of the Federal Reserve, from 2006 to 2014. During his tenure as chair, Bernanke oversaw the Federal Reserve's response to the late-2000s financial crisis, for which he was named the 2009 Time Person of the Year. Before becoming Federal Reserve chair, Bernanke was a tenured professor at Princeton University and chaired the department of economics there from 1996 to September 2002, when he went on public service leave.
