[lbo-talk] employment

Bill Bartlett billbartlett at dodo.com.au
Fri Sep 26 23:17:00 PDT 2003


I'm trying to catch up with the old mail... At 7:42 AM -0700 8/9/03, Brad DeLong wrote:


>The *measured* unemployment rate was at 7.6% in 1992--and back then Bob Reich was talking about how the psychological unemployment rate was much higher then as well. Blue-collar and service-sector workers have not seen themselves as in an economy at full employment since the late 1970s, if then. So why has it taken 25 years?

It always takes 20 years. The attitudes of individual workers isn't amenable to change just because conditions have changed. You have to wait for the next generation to come into the workforce and develop new attitudes consistent with the new conditions.

Bill Bartlett Bracknell Tas



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