that's true of Detroit, too, I believe. Note that this is part of "structural" (or mismatch) unemployment rather than the Marxian reserve army of the unemployed.
On Mon, Feb 14, 2011 at 3:59 PM, michael perelman <[email protected]> wrote: > I remember driving through W. Va. during the 60s & seeing the > unemployed miners on their porches. They could not afford to sell > their houses at distressed prices, so they waited for things to > improve. > > Oswald, Andrew J. 1999. "The Housing Market and Europe's Unemployment: > A Non-Technical Paper." > <http://www2.warwick.ac.uk/fac/soc/economics/staff/faculty/oswald/homesnt.pdf> > Andrew Oswald's finding that home ownership is the most reasonable > explanation for differences in unemployment rates between countries. > The scatter graph has a very impressive fit. > > > > -- > Michael Perelman > Economics Department > California State University > Chico, CA > 95929 > > 530 898 5321 > fax 530 898 5901 > http://michaelperelman.wordpress.com > _______________________________________________ > pen-l mailing list > [email protected] > https://lists.csuchico.edu/mailman/listinfo/pen-l > -- Jim Devine / "Living a life of quiet desperation -- but always with style!" _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
