Short-time work schemes introduce distortions: they could impede growth and productivity once recovery begins by discouraging workers from moving from firms in declining industries to growing ones.
The industrial transference is the best choice to withdraw declining industries.
Tariffs are meant to protect workers in America's declining industries, but it would be far better for those workers to move from the industries of the past to the businesses of the future.
There were obviously declining industries - steel, coal, shipbuilding - coupled with rising service and financial sectors.
The government was accused of propping up declining industries.
