On Fri, Aug 3, 2012 at 9:47 AM, Eugene Coyle <[email protected]> wrote: > >From the NY Times: > "For context, the economy now produces as many goods and services — more, in > fact — as it did before the downturn officially began in December 2007. But > it does so with almost five million fewer jobs." > full at > http://www.nytimes.com/2012/08/04/business/economy/us-added-163000-jobs-in-july-jobless-rate-ticked-up.html?_r=1&hp > > Do you think monetary and fiscal policy it going to produce as many jobs as > the public desires?
We will never know because Bernanke and Geithner will not even bother trying. > What if you throw in devaluing the dollar? Devalue the dollar against what? And how exactly do you (or the Treasury? or the Fed?) accomplish that? > Or is it time to introduce a drastic cut in the work week? I think you will find absolutely no argument on PEN-L - not even I suspect from our resident Tea Partier David Shemano - about the desirability of this. But I don't think it can be done by fiat overnight without causing huge disruptions. It will have to be done gradually over a number of years and therefore it is no solution to the immediate problem of unemployment. -raghu. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
