YOUTH UNEMPLOYMENT

The columnist Paul Krugman paints a frightening picture about youth unemployment. "In Spain, the unemployment rate among workers under 25 is more than 50 percent. In Ireland almost a third of the young are unemployed. Here in America, youth unemployment is "only" 16.5 percent, which is still terrible — but things could be worse. " (New York Times, 29 April) Supporters of capitalism often laud its "efficiency" but it is difficult to think of anything more wasteful than bebarring young workers from taking part in the production and distribution of wealth. Half of all young Spanish workers on the dole. Some efficiency! RD