High unemployment? Blame Apple's iPad

While the recovery is beginning to take root, jobs still are an ongoing concern. A number of analysts have talked about how the U.S. government's accommodative monetary policies are to blame. According to Rep. Jesse Jackson Jr. (D, IL), they're all wrong. He says we only need to look as far as the iPad to explain where all the jobs have gone.

Jackson cities the recent bankruptcy of Borders as an example, asking, "Why do you need to go to Barnes & Noble? Buy an iPad and download your newspaper, download your book, download your magazine." He goes on to practically call it an abomination that Chicago State University’s plans to create a “textbookless” campus by giving incoming freshman students iPads.

It's nice to see a congressman worried about unemployment, now he just needs to direct that frustration into the right channels. Obviously the publishing industry has changed. That change was started long before the iPad, though, just think Amazon. To say that one new electronic device that has only been on the market a little over a year is responsible for the loss of thousands of American jobs is ridiculous.

Jackson's speech is below. What do you think?  Banning iPad's probably isn't going to help the American employment situation, but what would?

About the Author
Michael McFarlin

Michael McFarlin joined Futures in 2010 after graduating summa cum laude from Trinity International University, where he majored in English/Communication. With the launch of the new web platform, Michael serves as web editor for the site and will continue to work on the magazine, where he focuses on the Markets and Trading 101 features. He also served as a member of the Wisconsin National Guard from 2007 to 2010. mmcfarlin@futuresmag.com

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