Free Republic

As I noted in a previous post, economists define three types of unemployment: frictional, structural, and cyclical: Frictional unemployment is defined as the unemployment that occurs because of people moving or changing occupations. Demographic change can also play a role in this type of unemployment since young or first-time workers tend to have higher-than-normal turnover rates as they settle into a long-term occupation. An important distinguishing feature of this type of unemployment, unlike the two that follow it, is that it is voluntary on the part of the worker. Structural unemployment is defined as unemployment arising from technical change such...

Time is a component of a measuring system used to sequence events, to compare the durations of events and the intervals between them, and to quantify the motions of objects. Time has been a major subject of religion, philosophy, and science, but defining time in a non-controversial manner applicable to all fields of study has consistently eluded the greatest scholars. (Source: http://en.wikipedia.org/wiki/Time) At the point in history when Homo sapiens became socially aware, time was considered to be cyclical, or a matter of day and night. The seasons were a matter of birth and death, and calendars were based on...

<p>There's been more than a little dark, bottom-of-the-cycle muttering in recent weeks -- some in the pages of this newspaper -- suggesting Silicon Valley is broken, that the engine of entrepreneurial growth has conked out.</p> <p>The Internet and telecommunications boom of the late 1990s, the pessimists contend, was entirely a bubble and everything we gained has disappeared.</p>