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Re: [Pen-l] lump of labor

Carrol Cox <cbcox@xxxxxxxxx> writes:

> If the reduced hours did result in anything like full employment, wages
> might fall _very_ temporarily, but then they would almost certainly
> begin to climb, and fairly rapidly I would think, as larger work forces
> would be required and competeition for labor would develop. Isn't that
> usually the effect of full employment?

This is my understanding, and the reason for the ghoulish rise in stock
prices when unemployment goes up.

-- 
In Solidarity,
Billy O'Connor
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