Opinion: (Ben Bernanke, Federal Reserve Chairman): ‘“I do think that a considerable part of the unemployment that we are seeing is cyclical. Final comment, cyclical unemployment left untreated, so to speak, for a long time can become structural unemployment as people lose skills, they lose attachment to the labor force.’
‘“Unemployment is far too high. Inequality, which is not a new phenomenon – increases in inequality have been going on for at least 30 years – but as that has continued, we have a more unequal society than we’ve had in the past.”’
My Comment: Unemployment and inequality will continue to grow until market capitalism is replaced by the system of mutual guarantee with reasonable consumption. We can come to it through wars or through a deliberate change.