>>aren't progressive economists generally of the view that a little
extra
>>inflation isn't such a terrible thing?
>>
>>suppose that unemployment is 6% and inflation is 3%. Behind Door
Number
>>Two
>>we have: inflation is 6% and unemployment is 3%.
>>
>>shouldn't we favor Door Number Two?
There's a real question as to whether what's behind Door #2 is sustainable though. I don't think it's just ideology. Maybe capitalism just can't handle a low unemployment rate.
Cheers, Mike scandalum.wordpress.com