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We need to re think economic activity, and how it is structured and managed. The invisible hand of "Adam Smith," In the early days of capital expansion, labour was one of the major prerequisites of the industrial, agricultural production cycle. Agriculture, has modernized to an extent whereby labour is not the highest proportion of the, factors involved. The same with industrial production. So in this highly mechanised, hi tech, capitalism, where are the jobs? Easy, you have been made redundant. Therefore, if you cannot think of a way in which to sustain yourself and family, tough.
No doubt if productivity doesn't improve debts will become more onerous if interest rates aren't kept artificially low. That is not only a moral hazard, or bluntly, welfare, but also sustains untenable positions, and prevents better investment, leaving the only option for Keynesians to find more suckers for this Ponzi scheme, and so prevent developed economies from having to lower their standard of living to less-developed countries' level. Bernanke's notion that the US, Europe and Japan require lower rates is not only ludicrous, but actually criminal.
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John Brynjolfsson on technology, Europe and the currency wars
The Colder War Part 2, Auerback on Europe
Coppola on the mess in Europe, Kling on basic income