Roger Simon at PJ Media says “America has already gone Galt” (emphasis in original):
Tell all your “Objectivist” friends and the libertarian gang at Reason magazine to break out the champagne. Americans may have skipped the movie of Atlas Shrugged, nor have many read any of Ayn Rand’s works, but they have taken the author’s advice anyway and gone John Galt, quitting the work force in record numbers. According to Zero Hedge, the latest figures show the labor participation rate at 35 year low.
Realistically, it’s even more than 35 because that figure reflects an employment bump when larger numbers of women joined the work force in the seventies and eighties. (They’re gone now, with or without Gloria Steinem.)
Currently a record 91.8 million Americans are no longer looking for work. That’s almost one and a half times the entire population of France.
And that’s one way to look at it. …
In terms of finality, drama, and meaning, the effective retirement of 92 million Americans from the labor force can at least be compared with going Galt. And that’s something most of us never thought we’d see in this lifetime.
Dr. Helen Smith chimed in, also at PJM, suggesting that many Americans who have dropped out of the government-tracked labor force are working – but off the grid. She figures they’re also the ones receiving benefits:
See the rest On the QT…