AG on globalization

Lisa & Ian Murray seamus at
Wed Aug 30 18:03:32 PDT 2000

Brad>> Well, Alan Greenspan said that employment-at-will promotes cost

savings from taking advantage of technological change, that faster

adoption of new technologies means higher productivity growth, that

higher productivity growth means faster warranted real wage growth,

that faster warranted real wage growth means that the sustainable

average unemployment rate that keeps actual real wage growth equal to

warranted real wage growth is lower...

Hence, yes, Alan Greenspan said that layoffs promote employment... ============

Of course, he'll never call David Ellerman over at the WB to discuss the egregious affront of at will employment to "established" democratic values. Cost savings for whom? Isn't the task of 21st century technologies to do for energy productivity what the last 300 years have done for labor productivity? Is he still reading Nathan Rosenberg on the issue?


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