Europe's Modest Proposal To End Unemployment: Slavery

Tyler Durden's picture

Having spent weeks talking amongst themselves about the chronic and dangerous rise of youth unemployment in Europe (as we warned here), the Center of planning and Economic Research in Greece has proposed a controversial measure. As GreekReporter reports, the measure includes unpaid work for the young and unemployed up to 24 years old, so that companies would have a strong motive to hire young employees. "Unpaid" work sounds a lot like slavery to us... but it gets better; the report also suggested "exporting young unemployed persons." No comment...

 

Europe's youth unemployment problem is epic - 24.4% of Europe's under-25 population is unemployed...

 

 

GreekReporter notes the solution to Greece's problems...

Centre of planning and Economic Research in Greece has proposed a controversial measure in order to deal with the problem of increasing unemployment in the country.

 

The measure includes unpaid work for the young and unemployed up to 24 years old, so that companies would have a strong motive to hire young employees. Practically, what is proposed is the abolition of the basic salary for a year. At the same time the “export” of young unemployed persons was also proposed to other countries abroad, as Greek businesses do not appear able to hire new personnel.

 

According to the National Confederation of Hellenic Commerce, unemployment especially hits the ages between 15-24. The unemployment rate in Greece stands at 24.6% while 57.2% of young people are without a job. The majority of the unemployed (71%) have had no work for 12 months or more, while 23.3 % of the total have never worked. There were 3,635,905 people employed and 1,345,387 unemployed.

Whether it’s Europe in the 1930’s or the US during the same period (conflicts between strikers, the National Guard and armed militias), unemployment can create a powerful cocktail of unrest.

 

But turning your nation's young into slaves does not seem like a good solution to us...