Doug Henwood wrote:
>
> mike larkin wrote:
>
> >So the bond market does have something in common with
> >the left.
>
> Not the left I belong to, man. I think tight labor markets are good
> for the working class, and slack ones, bad.
>
I've always agreed with this on the whole -- but I think it would be worthwhile doing a historical study of a third alternative.
Relatively _short_ periods of _either_ low unemployment or high unemployment have no effect either way.
Medium periods of high unemployment are _very_ bad for the left.
Medium periods of low unemployment make no political difference.
Long periods of _either_ enhance the left. The two major 20th century periods of left success were the '30s and the '60s, the former lengthy period of bad economy, the latter lengthy period of good economy.
??????
Carrol
> Doug
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