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For those unfortunate enough to experience it, long-term unemployment - now, as in the 1930s - is a tragedy. And, for society as a whole, there is the danger that the productive capacity of a significant portion of the labour force will be impaired.

Barry Eichengreen
Long, Tragedy, Unemployment
"US unemployment: some lessons in sharing from the Great Depression" by Barry Eichengreen, www.theguardian.com. June 12, 2012.
For those unfortunate enough to experience it, long-term unemployment - now, as in the 1930s - is a tragedy. And, for society as a whole, there is the danger that the productive capacity of a significant portion of the