PRESIDENT OBAMA "campaigned this week for 'new and innovative approaches' to America's economic crisis. So naturally, the futurist-in-chief filched his fresh, bold ideas straight from ... the 1930s. The grand new solution to the jobs deficit ... is more FDR-style federal job-training spending."

Guilds - and unions, and 'professional licensing' laws - have all used 'job training' as excuses for their existence. How have they worked out?