But don't bother asking for evidence that justifies this bleak view. There isn't any. On the contrary, all the facts suggest that high unemployment in America is the result of inadequate demand -- full stop. Saying that there are no easy answers sounds wise, but it's actually foolish: our unemployment crisis could be cured very quickly if we had the intellectual clarity and political will to act.
Paul Krugman: Structural Unemployment 'Is An Excuse For Not Pursuing Real Solutions'