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November 26, 2021

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Rumsfeldian, via Lewis Carroll, is what everything now is.

the unemployment rate is very low, and has returned to pre-COVID levels for most (all?) demographics.

But the labor force participation rate is as low as it was in the mid-1970s before a lot of women entered the labor market. A lot of workers are quitting or not trying to get jobs. A big percentage of them are not at home sitting on the couch but are becoming self-employed. Others are home babysitting because schools are closed or inconsistently opened. A lot of teenagers are taking up the slack with their unemployment the lowest it has been since 1953.

Is it okay for the evil government to interfere with the infallible free market by taking whatever measures to alleviate supply-chain issues? (I can predict the response to this question, btw.)

Is it okay for the evil government to interfere with the infallible free market by taking whatever measures to alleviate supply-chain issues?

Of course. But the only action the evil government needs to take is privatize the ports. The owners would have increased capacity in order to handle the surge is import traffic -- the one that nobody saw coming.

Just like owners of retail businesses increased their inventories in anticipation of the increase in sales and upstream supply chain issues. Oh wait....

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