Keynesian "cheating" w/o European Super state

["Gregoire de Nowell (ci-devant)" <GN842@xxxxxxxxxxxxxxxxx>]

Per suggests that the different nations of the EC do not need a superstate
or a central bank to forge ahead with full employment policies.

We all know about trade wars.  Here's a hypothetical:

All states are committed to "full employment."  However, as
we know, the exact definition of full employment is difficult
to achieve.  It might mean putting in wheel chair ramps and special
devices so that Muscular dystrohy teenages can work at McDonald's
restaurants.  Or it might mean that everyone with two legs can
work at McDonalds.  Or it might mean that everyone with two
legs and an IQ over (you pick) X level can get a job at
McDonald's.

In theory the "deeper" you go into unemployment pool the
higher the wage level will be at the margin.  And the higher
the wage level, the less competitive, internationally,
your goods.

So here's my mischeivous proposal:  Nations nominally
all committed to full employment will "cheat" (just as
free trade nations can cheat by putting other kinds of
restrictions on goods) by defining downward the "real
" level of full employment.  The nation best able to
fool its working class gets lower priced goods and
"wins."

Mischievously,

Greg Nowell