This post is inspired by a video I saw on YouTube from a guy named Tim Youmans. Tim seems to be another guy out there in the world who has seen how modern economies really work, can’t unsee it, and wish others could see it too.
The video below is a man named Warren Mosler explaining how job training is not enough to address unemployment using an analogy of dogs finding bones.
When you have 100 dogs and you set them to find 95 bones, 95 dogs find bones, and 5 do not.
Job training is where you give special training to the 5 dogs who did not find bones. You teach them how to find bones better and faster. You let them practice before the next run.
Then you again let 100 dogs into a yard to find 95 bones.
The 5 dogs you trained have bones. This is held up as a success. It shows job training works.
What is left out in this narrative is the reality that 5 different dogs didn’t get bones.
Below is the full video where I first encountered Tim Youmans.