Who Rules America Today? (was Re: On the Defense of Parasitic Finance)

[Seth Ackerman]

> ----------
> From: 	Doug Henwood[SMTP:dhenwood at panix.com]
> Reply To: 	lbo-talk at lists.panix.com
> Sent: 	Monday, January 15, 2001 9:27 AM
> To: 	lbo-talk at lists.panix.com
> Subject: 	RE: Who Rules America Today? (was Re: On the Defense of
> Parasitic Finance)
> 
> As for "democratizing the Fed," it'd also be nice to democratize 
> Congress. That aside, this is where we get into the Kalecki 
> kontroversy. Most industrialists don't want labor markets to be too 
> tight. They may have a slightly more generous definition of full 
> employment than your average denizen of the bond pits, but not much. 
> 
> 
Industrialists don't want labor markets to be too tight? How loose do they
want them? Unemployment reached a trough of 3.9% this business cycle, yet
the National Assn of Manufacturers, to my knowledge, hasn't swerved an inch
from their advocacy of lower interest rates.

Seth