[lbo-talk] Krugman on why the stimulus should be $600bn minimum

[John Thornton]

Doug Henwood wrote:
>
> On Nov 11, 2008, at 1:23 PM, John Thornton wrote:
>
>> While I do like Krugman I hate the "natural" rate of employment.
>
> Nothing "natural" about it. But there probably is some rate - hard to 
> name exactly - that divides the situation where labor has the upper 
> hand from where capital does.
>
> Doug 

I have long suspected that this hard to pin down rate is the "natural" 
rate since it is of course "unnatural" for labor to make demands of capital.
At least as far as capitalists are concerned.

John Thornton