April 27, 2016
I always read with much interest articles that discuss the employment of the young, such as Sarah O’Connor’s “Stepping inside the workplace simulator at a London school” April 27. And I do so because of two reasons:
The first is because I am convinced of that, by means of the risk weighted capital requirements for banks, concocted by the Basel Committee, we are making it very difficult for banks to finance what in the long run creates new jobs, because that takes a lot of risk-taking.
And second, because I am equally convinced of that no matter what we do, we will end up with many persons who will never ever have had a job, and it is a true and vital societal challenge to think about what to do with them.
PS. And of course, the question in the title of this letter, is just a bit too valid for my taste.