Yes, we have an answer to long term structural unemployment. In the academic world, We are finally starting to see what looks like the broad outline of of a job creation policy. The centerpieces are strong anti-monopolization regulation, support for small businesses, and education and training for the workforce. Conservatives would also all support for wage and geographic labor market flexibility.
Below is an important piece on corporate consolidation.
But then, as a rational thinking economist want-a-be, you then say what institution, private or public, if any could handle the task. During the 70's and 80's we trusted government regulator's to operate in the countries best interest. But conservatives has discredited any good government could do, so there is no one left fill the void. and encourage competition.
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