Romney Economic plan: "Romney's Plan for Dealing with Unemployment: Have the Unemployed Borrow Money
From Their Fathers and Start Businesses"
I wish I could laugh, but I can't.
I can't because much of the economics profession still denies trade causes inequality, claims we live in a meritocracy and the real problem is that the poor need to be provided the correct incentives to work. Government just has to get out of the way.
Of course "incentives" are something that economics always recommends to the working class, providing the proper incentives to business (think tax reform, regulation) is something economics gives only a minor mention, and usually with bromides and caveats about how under the proper conditions "the markets will be self regulating" or the Coase theorem will lead us to an efficient solution of market externalities (message: there is no need for nasty government). What Europe needs is labour market reforms not corporate tax reform.
I have an idea, why don't we deregulate the labour markets in North America so the poor can send their children into the labour market, sell their children into slavery or prostitution - EM countries have been using that type of innovative, free market thinking -well forever.
But economists are against exploitation you say -because economists frequently come out against exploitive organizations and TV shows likes Duck Dynasty & Honey Boo Boo, and NCAA and NFL football. Sorry- my bad.
Perhaps the young poor are just missing a proper role model.
For those about to recommend to the poor to innovate, we salute you.