That is the standard answer in the economic literature. What would have happened in the post-World War II American economy without the federal government to prop up the job market?
On Sun, Mar 28, 2004 at 04:09:23PM -0500, Doug Henwood wrote: > Michael Perelman wrote: > > >Supposedly, new technology lowers prices, which spurs new demand, > >which reemploy as > >the workers. I'm not saying I accept this argument, but I have not seen many > >economists eating crow. > > Several centuries of capitalist history are on the side of the > non-crow-eaters, no? I like Ursula Huws's argument that one reason is > the continued commodification of household tasks, an instance of > capitalism's seemingly endless propensity to create new and > profitable "needs." > > Doug -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail michael at ecst.csuchico.edu
