Considering the cost of saving just one job in the steel, automobile, or textile industry, a "cheaper" government policy from the overall economy's perspective would be to just pay these workers $100,000 per year to retire. Why do you think that politicians never suggest policies like this?
Ans
Because it will involve substantial amount of money from the Govts side. Also it is not rational since then people will then prefer staying unemployed since they will still get money from Govt with the result hardly any output will be produced in the economy resulting in more suffering.
Considering the cost of saving just one job in the steel, automobile, or textile industry, a "cheaper" government policy from the overall economy's perspective would be to just pay these w...
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