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Re: Quebec Protests


"J. Barkley Rosser, Jr." wrote:
>
> Steve,
>      And steel workers may not be able to
> retrain to become shepherds or vice versa
> (or be located in the same parts of the country).
> But these are things that could be helped a lot
> by employer of last resort/retraining policies.

I'd advise the US to stay as far away from ELR programs as possible so
long as fiscal policy is set for budget balancing rather than full
employment. The combination of fiscal prudence and ELR inevitably
motivates use of ELR labor to fill gaps in the public sector when budget
balancing prevents permanent hiring. On the other hand, once fiscal
policy is set for full employment ELR becomes unnecessary.

/srl


--
Sven R Larson
PhD; Assistant professor of economics
Department of Social Sciences, Bldg. 22.2
Roskilde University
Pb 260
DK-4000 Roskilde, Denmark
Phone: (+45) 4674 2910
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