John, The argument mounted by Thomas Palley in a chapter of an edited book, (sorry
I don't know the title, I read it in a bookshop in London) is that macro-policy in
many european countries has been geared to keeping inflation down, whereas  the
USA ran budget deficits for years and a much looser monetary policy.
Martin

John Exdell wrote:

> An economist at Kansas State University wrote an op-ed column in today's
> paper here attacking a local labor coalition that is pushing for a living
> wage economic development policy.  He included the conventional wisdom that
> high minimum wages in Europe have caused high unemployment rates.  I recall
> a posting on PEN in the late summer from someone who disputed this claim.
> That message contained some figures on unemployment rates in several
> European countries that were not much higher than ours, despite much higher
> minimum wages in those countries.  If someone has reliable figures on this,
> please post them.  We will make use of them here in our response.
>
> This economist of course also represented his view as the universal wisdom
> of his profession.  Are there other cogent explanations economists offer
> for the higher unemployment rates in some European countries?
>
> ---------------------------------------------------------------------------
> Department of Philosophy                        Office/voicemail: 785-532-0359
> Kedzie Hall 203                         Philosophy Office: 785-532-6758
> Kansas State University                 Home: 785-539-6076
> Manhattan KS 66506                              Fax: 785-532-7004

--
Centre of Full Employment and Equity
Department of Economics                   Phone (61)2 4921-5069 (Work)
University of Newcastle                   Fax (61)2 4921-6919 (Work)
NSW 2308                                  Phone (61)2 4982-9158 (Home)
Australia                                 Fax (61)2 4981-8124 (Home)


Reply via email to