"The mind is a compact, multiply connected thought mass with internal connections of the most intimate kind. It grows continuously as new thought masses enter it, and this is the means by which it continues to develop."

Bernhard Riemann On Psychology and Metaphysics ca. 1860

Today's Elites

Friday, February 05, 2010

Is the World's Oldest Profession Economics?

From today's headlines:

Economy Sheds 20,000 Jobs But Rate Drops to 9.7 Percent
While a sharp increase in the number of people giving up looking for work helped to depress the jobless rate, some details of the employment report were encouraging. The number of "discouraged job seekers" rose to 1.1 million in January from 734,000 a year ago.

Hmm. Very interesting. Shouldn't we encourage the Labor Department for the sake of full disclosure to label these "discouraged workers" as "desaparecidos" a la Argentina or perhaps they might prefer the Stalinist "Damnatio Memoriae" method of photographic erasure. I guess the statisticians will do anything to provide the illusion that there is a "recovery" even though the corpse of the economy rots apace.

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