The reduction in the work day is to be introduced
gradually at a time when the french economy is
experiencing an expansion, that is under relatively
high growth rates.
--- Tom Walker [EMAIL PROTECTED] wrote:
Here's a question (and answer) from the final exam
for Professor Lutz
Hendricks'
I don't know. Please tell. BTW, there's an interesting old quote from Daniel Bell (the
famous sociologist) in which he likens the receipt of corporate profits to the
collection
of taxes. (However, I think the conditions that led him to that conclusion -- those of
the
early 1960s in the US --
Sorry, I thought I had beaten this dead horse so much that people would pick
up on the intended irony. The key phrase is "the infamous lump of labor
fallacy" the Arizona State U professor cites as the basis for the hope that
reducing the work week will create jobs. Infamous indeed! There is no
the bad news: the UCLA guys predict a "mild" recession in the US during the next year
or
so.
the good news: it won't hit Southern California that hard. (As if we need more!)
-- Jim Devine
Thursday, April 5, 2001 | L.A. TIMES.
S. California Foreseen Escaping U.S. Recession
By STUART
Even engineering grads hit by cooling economy
Downturn dims high-tech hopes
Charles V. Tines / The Detroit News 4/6/01
Kettering students Lance Kornoelje, 22, and Trent Nobach, 22, are finding the job
market isn't what they expected.
By Mike Hudson / The Detroit News
FLINT -- It's
Why is the result the same if hours are reduced with no reduction in pay?
CB
[EMAIL PROTECTED] 04/05/01 11:53PM
Here's a question (and answer) from the final exam for Professor Lutz
Hendricks' Economics 503 course at Arizona State University:
Essay Questions (30 points each). Answer 4
Come to think of it, why don't I just recycle the op-ed piece I wrote this
week for Straight Goods "Canada's independent - reader-supported - on-line
source of news you can use http://www.straightgoods.com. . .":
Remembrance of Work Time Standards Lost
Twenty-five years ago, two-thirds of the
[EMAIL PROTECTED] wrote:
So what? I'm sure that capitalism can adapt to not having a T-bill market.
It can adapt, but happily? Where else you going to park your cash
balances in a riskless instrument? What will the Fed use for open
market operations? Where will central banks keep their
Moldova returns to communism
April 4, 2001
CHISINAU, Moldova -- Moldova has become the first former Soviet state to elect a
communist as its leader.
The eastern European nation's parliament elected Communist Party leader Vladimir
Voronin as the new president on Wednesday.
The result was
THE RETURN OF THE REAGAN TAX CUT -- CCDS Statement
a statement of the Committees of Correspondence for Democracy and
Socialism (CCDS)
Before addressing the Bush tax cut proposal, we want to place
this issue in its larger context. We, the Committees of
Correspondence for Democracy and Socialism,
Jobs Byte
By Dean Baker
Jobs Byte is published each month upon release of
the
Bureau of Labor Statistics' employment report.
For more
information or to subscribe by fax or email
contact the Center
for Economic and Policy Research at 202 293-5380
ext. 206 or
[EMAIL PROTECTED]
I wrote:So what? I'm sure that capitalism can adapt to not having a T-bill market.
Asks Doug: It can adapt, but happily? Where else you going to park your cash
balances in
a riskless instrument? What will the Fed use for open market operations? Where will
central banks keep their reserve
Turks' anger mounts, PM says government won't quit
By Joseph Logan
ISTANBUL, April 6 (Reuters) - Angry Turkish demonstrators demanded on Friday
that their leaders resign for their handling of the country's economic
crisis, but Prime Minister Bulent Ecevit vowed the government would not
If you think about systems of markets in financial assets, they all seem to
pivot on a riskless asset, whose very high level of liquidity and support by
a strong state are parts of its risklessness. T-bills, as well as longer
Treasury bonds, play that role globally. This has long been a feature
At 13:44 06/04/01 -0400, you wrote:
Moldova returns to communism
April 4, 2001
CHISINAU, Moldova -- Moldova has become the first former Soviet state to
elect a communist as its leader.
How much will the new regime be
radical democratic,
socialistic, or
communistic?
Chris Burford
London
BLS DAILY REPORT, FRIDAY, APRIL 6, 2001:
RELEASED TODAY: Nonfarm employment fell in March, while the unemployment
rate was little changed at 4.3 percent, BLS reported. A decline in
nonfarm payroll employment of 86,000 reflected losses in manufacturing,
help supply services, and retail
[EMAIL PROTECTED] wrote:
I wrote:So what? I'm sure that capitalism can adapt to not having
a T-bill market.
Asks Doug: It can adapt, but happily? Where else you going to park
your cash balances in
a riskless instrument? What will the Fed use for open market
operations? Where will
central
Doug is right!
It would be a major blow to much of mathematical finance as it relies heavily
on the existence of a riskless rate. Would be nice for the finance professors
though: they would have to rework most of their fomulas and get more papers
published. Wouldn't it be great to see yet
I wrote:So what? I'm sure that capitalism can adapt to not having a T-bill market.
Asked Doug: It can adapt, but happily? Where else you going to park your cash
balances in
a riskless instrument? What will the Fed use for open market operations? Where will
central banks keep their reserve
I don't know. Please tell. BTW, there's an interesting old quote from
Daniel Bell (the
famous sociologist) in which he likens the receipt of corporate profits to
the collection
of taxes. (However, I think the conditions that led him to that
conclusion -- those of the
early 1960s in the US
Moldova returns to communism
April 4, 2001
CHISINAU, Moldova -- Moldova has become the first former Soviet state to elect a
communist as its leader.
The eastern European nation's parliament elected Communist Party leader Vladimir
Voronin
as the new president on Wednesday.
wouldn't
Warren Mosler, who is in the biz, saw the article this morning and sent this to
the NYT:
To the Editor:
Not to worry about no more treasury bills, bonds, or notes. If we don't
restore deficit spending by tax cuts and/or spending increases the market will
do it for us, just like 1990, through
Jim writes:
To be totally serious, I'd guess we'd have to say that the existence of
the
government
debt subsidizes the financial sector in the ways that Doug suggested.
Doug did not say this. Subsidy is not a very useful way of thinking about
the relationship between gov't and finance.
I wrote:
I don't understand why the whole issue of the T-Bills disappearing is worth being
serious about.
Doug writes: Well, they've been the keystone or foundation of the credit market for
decades, so it's hard to say what life will be like without them.
I guess we should look back to the
April 2, 2001
The slow march to authoritarianism
Murray Dobbin
The Financial Post
Where is everybody? That is, where are all those from the Canadian
political elite who, in better times, might be expected to publicly
condemn the draconian "security" preparations going on for the Summit of
Jim:
I guess we should look back to the 19th century and the early 20th
century,
back before
the T-bill market became so developed and T-bills themselves became so
liquid.
How did the
US financial markets work then?
The predecessor was the call-loan market, which was vulnerable to
crises.
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