Re: BLS Daily Report

[Michael Perelman <michael@xxxxxxxxxxxxxxxxx>]

Richardson_D wrote:

> For the economists among us: how much does industrial production have to
> fall before the US is ineligible to be called an industrialized country? :-)
>

Boswell, James. 1934-64. Life of Johnson, 6 vols. (Oxford: Oxford University
Press).
   ii, p. 464: "Very little business appeared to be going forward in Lichfield.
I found however two strange manufactures for so inland a place, sail-cloth and
streamers for ships: and I observed them making some saddle-cloths, and dressing
sheep skins: but upon the whole, the busy hand of industry seemed to be quite
slackened.  "Surely, Sir, (said I,) you are an idle set of people."    "Sir
(said Johnson) "We are a City of Philosophers: we work with our Heads, and make
the Boobies of Birmingham work for us with their hands."
--

Michael Perelman
Economics Department
California State University
Chico, CA 95929

Tel. 530-898-5321
E-Mail michael@xxxxxxxxxxxxxxxxx