In the News (from Bloomberg): “Germany and France will announce joint proposals this month to address Europe’s soaring youth unemployment, the Labor Ministry in Berlin said, confirming a newspaper report of a planned ‘New Deal for Europe.’
“The blueprint will be unveiled in Paris on May 28 and will enroll the European Investment Bank to unlock billions of euros in loans to companies that create jobs for young people,
“The EIB may ‘leverage’ the 6 billion euros ($7.8 billion) to be made available through 2020 by the European Union to offer loans worth a total of as much as 60 billion euros, the newspaper said, citing unnamed officials. …
“The economy of the 17-nation euro area will probably shrink for a second year while unemployment will rise to a record 12.2 percent, the EU Commission said May 3 as it presented new forecasts. Youth unemployment – defined as people aged below 25 without work – rose to 24 percent in the single currency area in March, according to Eurostat.”
My Comment: Everyone understands that this is not the answer because there is no demand, and it’s unclear what jobs to create and what for. Development drives us towards a society of reasonable consumption of what is necessary for existence: healthy food, clothing, and so forth.
We will no longer be able to create artificial jobs just to occupy people, deliberately produce perishable products. We must admit that we have “arrived” at a new future: There will be no work, but people will be engaged into building their future image of a “person of the integral world.” Correcting oneself is the only work that remains for us.