Bernanke Lose Your Skills Unemployed Fallacy

Ben Bernanke on a regular basis says that people who are out of work lose their skills.   Econ profs will spend 1 to 2 years in government and then go back to teaching.  So they lose their skills for teaching?  So they should not be allowed to return by the university?

If you write a textbook and don’t work on it for 2 years, you have lost your skill to write textbooks?

People from India and China who are young and inexperienced are hired as programmers.  People who are in their 40s are fired.  So someone who has not programmed at a job for 2 years but has written over 100k lines of production code is unskilled, but someone from India or China who never worked is skilled?


About New Math Done Right

Author of Pre-Algebra New Math Done Right Peano Axioms. A below college level self study book on the Peano Axioms and proofs of the associative and commutative laws of addition. President of Mathematical Finance Company. Provides economic scenario generators to financial institutions.
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