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I never defined 64.6% as full employment. From what I remember of the late 90s, it felt to me like full employment well before that peak was reached.
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I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891 -
It probably did, 64% was reached in the second half of 1997.
However at 180,000 jobs per month created that will still take six years for the US to reach that level.19th Century Liberal, 21st Century EuropeanComment
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hillarious, freako
"Everything for the State, nothing against the State, nothing outside the State" - Benito MussoliniComment
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I have to have a good sense of humor - some bastard went and invented mirrorsOriginally posted by Lawrence of Arabia
hillarious, freako
19th Century Liberal, 21st Century EuropeanComment
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Actually, I did not like it when the emplyment rate was at 64%. We were scraping the bottom of the barrel to get people and end up with some horrible programmers. In the service sector, we ended up with the some of the worst customer service I have ever experienced.“It is no use trying to 'see through' first principles. If you see through everything, then everything is transparent. But a wholly transparent world is an invisible world. To 'see through' all things is the same as not to see.”
― C.S. Lewis, The Abolition of ManComment
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That's soon enough, as far as I'm concerned (accepting the constraints of the argument of the 180,000 average, while noting that even a very modest increase in that average would shorten the time period drastically or a very modest decrease in that average would lengthen the time period drastically).Originally posted by el freako
It probably did, 64% was reached in the second half of 1997.
However at 180,000 jobs per month created that will still take six years for the US to reach that level.
Edit: This argument is a little synthetic, you'll have to agree. We would be approaching those levels at a lower slope this time around than in either of the earlier cases. So times would still be good, even if it took longer to get to full employment.Last edited by DanS; July 13, 2005, 14:57.I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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That means that the US should improve it's educational sector then - a very good supply-side measure.Originally posted by pchang
Actually, I did not like it when the emplyment rate was at 64%. We were scraping the bottom of the barrel to get people and end up with some horrible programmers. In the service sector, we ended up with the some of the worst customer service I have ever experienced.19th Century Liberal, 21st Century EuropeanComment
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but even then, thats just the nature of diminishing marginal returns - you hire the best minds first and the worst minds last.
? you're worse then the admin!That's soon enough, as far as I'm concerned"Everything for the State, nothing against the State, nothing outside the State" - Benito MussoliniComment
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Well, what would you do as a policy measure to reach full employment faster and keep it there?Last edited by DanS; July 13, 2005, 18:55.I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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Seven kinds of mashed potatoes! Not until LoA mentioned it did I notice the missing "out".Originally posted by Colon
1. Markos made it.
2. The bad English is part of the humour of it.
3. I don't think you should be complaining about other people's bad English.
Why can't you be a non-conformist just like everybody else?
It's no good (from an evolutionary point of view) to have the physique of Tarzan if you have the sex drive of a philosopher. -- Michael Ruse
The Nedaverse I can accept, but not the Berzaverse. There can only be so many alternate realities. -- ElokComment
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you and I both now very well that its the government deficit brought on by president bush and a republican house and senate that has crowded out the private sector and slowed down growth.Well, what would you do as a policy measure to reach full employment faster and keep it there?
not to mention that now all the supply siders are coming out of the woodwork to proclaim the genius of tax cuts when the only thing that has been proven is causality, and not corrolation."Everything for the State, nothing against the State, nothing outside the State" - Benito MussoliniComment
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Why do interest rates stay low then?Originally posted by Lawrence of Arabia
you and I both now very well that its the government deficit brought on by president bush and a republican house and senate that has crowded out the private sector and slowed down growth.I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
- Justice Brett KavanaughComment
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Um? Is that meant the other way 'round?Originally posted by Lawrence of Arabia
not to mention that now all the supply siders are coming out of the woodwork to proclaim the genius of tax cuts when the only thing that has been proven is causality, and not corrolation.Why can't you be a non-conformist just like everybody else?
It's no good (from an evolutionary point of view) to have the physique of Tarzan if you have the sex drive of a philosopher. -- Michael Ruse
The Nedaverse I can accept, but not the Berzaverse. There can only be so many alternate realities. -- ElokComment
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The deficit has many fathers (I would be happy to review the history with you), but as you also know, deficits are short term net positives to growth. Up to this point in the business cycle, the net is probably still well positive. That's what gives the supply siders unwarranted ammo. Besides, the tax cuts were overdue and should have been pushed through in the late 90s. Anyway, it's somewhat ironic that you mention the deficit on a day that everybody has released much lower deficit predictions for this fiscal year.you and I both now very well that its the government deficit brought on by president bush and a republican house and senate that has crowded out the private sector and slowed down growth.Last edited by DanS; July 13, 2005, 22:47.I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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no i mean causality and causation in that order
why? i cant turn on a news channel without hearing an unqualified hack who has no idea about economics tell me that the deficit is being reduced because the economy has picked up, so there are more tax reciepts, because of the tax cuts. as i said earlier, no corrolation has been PROVEN betwee a reduction of taxes for the rich and an INCREASE in growth (especially during a recession), only causality. which is just as ridiculous as saying that since doctors treat many patients who later end up dieing, they are the ones who are causing them to die.Anyway, it's somewhat ironic that you mention the deficit on a day that everybody has released much lower deficit predictions for this fiscal year.Last edited by Lawrence of Arabia; July 14, 2005, 04:04."Everything for the State, nothing against the State, nothing outside the State" - Benito MussoliniComment
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