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Private Sector feeling the pain more than Public Sector- A Faulty Principle of Proportionality.
(From Business and Finance)
Irish policymakers and interest groups are obsessed with an idea of proportionality. "We must ensure that the pain of the current downturn is shared proportionally across all of the economy," say the trade unions.
This is a kindergarten brawl over a tray of cookies, not a foundation for economic policy.
First consider the Unions' argument that to date the public sector took more pain than the private sector. This is a patent lie. According to the latest statistics, some 353,000 private sector workers are out of jobs. The latest ONHS shows 97,000 jobs lost in the private sector in 12 months to November 2008. Over the same …
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