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The unemployment rate has exceeded 8% for more than three years. This has led some commentators and policy makers to speculate that there has been a fundamental change in the labor market.
If, as the Obama-Biden campaign alleges, there is a "war on women," Cardinal Timothy Dolan, the archbishop of New York, is its field marshal.
Momentous changes are under way in what central banks are and what they do. We are used to thinking that central banks' main task is to guide the economy by setting interest rates. Central banks' main tools used to be "open-market" operations, i.e.