Re: [Pen-l] Is Summers correct about this?

[Jim Devine <jdevine03@xxxxxxxxx>]

Sandwichman wrote:
> No, your pessimism is too optimistic, Jim.

thanks, Swami Onandonda.

> It is not meaningful any longer
> to talk in terms of potential or sub-potential GDP. The numbers can be made
> by other than rational means. As I said, the metric is broken. It became too
> much an index of success to remain an objective measurement of anything. The
> bottom line is there is no bottom line there. One ton nails to meet the
> quota... Enron was symptomatic of a characteristic of the system. This is
> not a problem that can be ironed out by putting a squeeze on workers' living
> standards. When the food is unfit to eat, it doesn't rectify things to serve
> larger portions.

so you deny the existence of involuntary unemployment, i.e., people
being forced by market conditions to reduce their number of paid
work-hours per year? Mass unemployment is the solution to
environmental destruction? Who will volunteer first?

by the way, Tom, you seem to be going down the road to nihilism.
-- 
Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own
way and let people talk.) -- Karl, paraphrasing Dante.
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