[lbo-talk] the beast eating its own head?

[Eugene Vilensky]

http://www.j-bradford-delong.net/movable_type/2005_archives/000080.html

Esteemed list-members:

Wouldn't falling wages lead to under-consumption and depressed global
output?  Is there a name to this paradox, "If we employ cheap labor,
we win, but if everyone else employs cheap labor then there's no one
around to buy our stuff?"

-- 
Eugene Vilensky
evilensky at gmail.com