Need for Major Projects

EIN News says, "EU Says Nearly 1 in 5 Young Europeans Can't Find Work As Recession Deepens. Nearly one in five young Europeans could not find a job in the first three months of this year as the region sank into the worst recession in 60 years, the EU statistics agency Eurostat said Thursday. (latimes.com)".
"The Next 'Moon Landing?' Norway Plans Deep-sea CO2 Storage. Can the North Sea basin hold all of the carbon dioxide in Europe? Norway certainly hopes so. At a high-level conference in Bergen last month, the oil-rich Nordic nation announced that it will work with Britain to study how the base of the North Sea could be used for carbon dioxide storage for European countries. It will also allocate nearly $200 million toward carbon capture and storage projects in the European Union. (csmonitor.com)"

The above two news items are related.
The employment problem in Europe (and also the US) results from a lack of major projects, on which labor depends. The deficiency of these major projects is the fault of both industry and government. Major projects result from an understanding of public needs and desires, imagination, and determination to accomplishment. For example, the US national rail system followed by Interstate roads were major projects.
While the Norway plan for Deep-sea CO2 Storage may create employment, the project itself will not contribute to the maintenance and improvement of lifestyle for European citizens. There will be temporary relief as funds are distributed to employees and wage earners, but the basic economic value of the project will not be there, and this deficiency will also be eventually felt.
The Pyramids were a major project using tremendous amounts of labor. However, the project contained no economic advantage. Perhaps this contributed to Egypt's decline as a world economic leader. A lesson to be learned is that one should not squander assets on non-productive ventures. While the implication is for individuals, it is obvious that it would also apply to corporations and government.