Evolution of Federal Reserve Thinking

alec ramsdell a_ramsdell at hotmail.com
Mon Oct 12 18:05:12 PDT 1998


Michael Cohen wrote:


>Doug quoted a private conversation indicating one of the most major
>concerns of
>the Fed was Labor Militancy i.e. preventing economic conditions from
>becomming
>sufficiently good for Labor that they would be embolded to make strong
>demands
>on Industrialists and Rentiers.

This reminds me of what's known as "Force Majeur" in law. I have no training in law, but I see it at my temp jobs. It applies to corporations, and this force includes things like earthquakes and "acts of God" (this is really what it says). In addition to these catastrophic kinds of disturbances are labor disturbances, if I remember correctly the only "man-made" force majeur. Anyone else familiar with this?

-Alec

______________________________________________________ Get Your Private, Free Email at http://www.hotmail.com



More information about the lbo-talk mailing list