Oh, sure. It's not free -- indeed, it's quite important that it *not* be free. (If the government *totally* subsidized the job, a host of nasty abuses become too tempting to avoid.)
But it's still a pretty dramatic subsidy, enough that a lot of businesses will take it up. And it doesn't take a huge amount to succeed: my suspicion is that shifting the unemployment rate down by just 1% of total employment would be enough to kick the feedback loop into gear, and 3% certainly would.
So I'm pretty comfortable that, even if this just reduces the cost of hiring by 50%, that is still "very cheap" enough to work...
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Date: 2010-10-16 01:44 am (UTC)But it's still a pretty dramatic subsidy, enough that a lot of businesses will take it up. And it doesn't take a huge amount to succeed: my suspicion is that shifting the unemployment rate down by just 1% of total employment would be enough to kick the feedback loop into gear, and 3% certainly would.
So I'm pretty comfortable that, even if this just reduces the cost of hiring by 50%, that is still "very cheap" enough to work...