US recession, Steel, rail, teachers, Israel

Gordon Fitch gcf at panix.com
Sat Feb 3 16:49:42 PST 2001


James Heartfield:
> US Recession: the Greens get their wish
> ... If the US hits zero-growth the world will get an
> interesting case study in the relative virtues of the static state
> economy proposed by environmentalists.
> ....

Now, this is an odd thing. If my personal economy grows by zero from one year to the next (zero corrected for inflation, of course) it means my living standard doesn't change. Big deal; I have lived through many such years. On the other hand, if the _national_ economy experiences zero growth, dire suffering and disorder results. Or at least people get very depressed about it. This difference strikes me as odd. I'm sure there's some simple explanation.



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