America the depressive

Michael Pollak mpollak at panix.com
Sun Sep 24 05:36:22 PDT 2000


On Fri, 22 Sep 2000, Barry Rene DeCicco wrote:


> I'm working in a company which was just spun off from Ford. We were part
> of Ford; now we're an independent supplier. 90% dependent on Ford, with
> management appointed by Ford, etc. Fear, uncertainty and doubt
> abound. People are leaving like crazy.

<more examples of the same phenomenon snipped>


>
> Once you see that, the question of who low unemployment can coexist
> with low inflation is solved (IMHO). The reason simply is that 4%
> unemployment is much more like 10% unemployment, for most people in
> the US.

That's an interesting idea. It should be testable, though. How do economists measure job churn? I seem to remember reading in LBO that it's noticably higher in the US than in Europe. But it is higher in the 90s than it was in the 80s?

Michael

__________________________________________________________________________ Michael Pollak................New York City..............mpollak at panix.com



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