On Sep 19, 2011, at 9:33 AM, Bill Lear wrote: > So, in short, anything that might diminish the ability of a government > to bail out the financial system, say by spending money to push up > employment, will be fought tooth and nail by these gigantic > institutions.
But high unemployment makes it far more likely that banks will need to be bailed out. If unemployment were 5% and GDP growth was 3%, there'd be no financial crisis. And it's not like we're anywhere near the trigger point at which full employment becomes "dangerous," by increasing the bargaining power of labor vs. capital. So I don't buy this explanation. Doug _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
