Originally posted by Darth Jello
instead of laying you off workers temporarily or permanently during tough economic times, you tell them not to come to work or to come to work at reduced hours and don't pay them. Instead, the government pays them two thirds of their previous wages so that they can keep living and consuming and once the economy picks up and business gets better (something that happens in a more quick and equitable way since instead of a direct bailout or subsidy, laid off consumers still participate in the market so market forces determine the fate of business), those same workers come back to their old jobs at their previous wages. If the business fails or more than 24 months pass, people move to the unemployment system, collect less money, and look for jobs. This is thought of as both a social safety net, a more fair and competitive socialism, and as an insurance policy against political extremism. Germany is the world's fourth largest economy and so the depression and the failure of AIG have set it's economy in free fall and in a position almost as bad as the last years of the Weimar Republic with the unemployment rate (which actually counts everybody who doesn't have work over there including kurzarbeiters) is at 8.5%. And yet the economy is starting to turn around faster than America's and there isn't the kind of depression and misery as there is in the United States where so many companies are just taking advantage of the situation and looting to the degree that in some polls, 35% of Americans are now identifying themselves as socialist or communist.
Good idea. Let's git rid of Social Security and Medicare and replace it with this. 😄