Fed release

Peter Kilander peterk at enteract.com
Tue Nov 16 19:55:18 PST 1999


Doug:


>[The last sentence of the second graf, translated into English, would
>read: "As a consequence, the unemployment rate has gotten alarmingly
>low, a trend that must eventually be contained...."]

I think this fact of the current economic system, this recurring theme is part of what shot me off in a leftward direction when I was a wee lad. (Too many people are working! Sound the alarm bells! It's not as if there's not enough work to be done. I wonder why radicals don't make more hay out of the issue. Does it have to do with the bogeyman Inflation?) After digesting that theme, I followed all of the nonsense about the Natural Rate of Unemployment. Remember that fad? How completely idealistic. What about a natural rate of employment complete with public jobs program that ensures the unemployment rate is "alarmingly low"?

Peter K.



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