Very interesting.  I saw it as very close to what I was writing in the 
Railroading book about the first Great Depression in the late 19th Century.


Michael Perelman
Economics Department
California State University
Mperelman at csuchico.edu
Chico, CA 95929
530-898-5321
fax 530-898-5901
www.michaelperelman.wordpress.com

-----Original Message-----
From: [email protected] 
[mailto:[email protected]] On Behalf Of Eugene Coyle
Sent: Friday, April 24, 2015 7:33 AM
To: Pen-l Pen-L; LBO
Subject: [Pen-l] Global policy dilemma: Too much of almost everything

Here is something from WSJ.com that might interest you:

Global policy dilemma: Too much of almost everything http://on.wsj.com/1Ok6t4m


The WSJ notices that there is "too much labor."  That means, of course, 
pressure on wages, and consumption.

Gene
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