Re: Re: RE: Structural Adjustment in the USA

[Doug Henwood <dhenwood@xxxxxxxxx>]

michael@xxxxxxxxxxxxxxxxx wrote:

> Absolutely yes, in the eyes of the IMF.

Well, that's a bit overstated. The U.S. has about the right level of
welfare state & regulation in the eyes of the IMF. A minimal "safety
net" is necessary to get workers to accept unemployment - this was
one of the Fund's arguements during the SE Asian crisis: without some
unemployment insurance scheme, there's less likelihood of layoffs in
a crisis. Too generous and you get Europe; the U.S. is about right

Doug