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