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This is CBS. I on the world.

I'm John Batchel with Nicholas Eberstadt of the American Enterprise Institute.

His book, Men Without Work, republished as a post-pandemic edition,

and we will come to what Nick can tell us of the statistics

after the shutdown of the American economy in the late winter, early spring of 2020.

But now to two of Nick's colleagues, Henry Olson and Jared Bernstein, who contribute a different look at the

men without work statistics we've been discussing. I begin with Henry Olson because he speaks of

recessions. There have been seven since the war, I believe, Nick, what you provide.

And he points to the twin shocks of the 1970s.

Why so?

What does that mean for him?

Well, so Henry is talking about the recession and stagflation, the big shocks that came to the economy,

where we started to see the decline in manufacture, the really acceleration of the decline in manufacturing.

And Henry and other critics, and I think it's great to include some critics and dissent in a book because you got the argument started,

have pointed to these structural changes as being fundamentally unfavorable to the former male sort of employment mode.

The observation is that you've overestimated government causes and underestimated the change in

labor market.

...