Full and Fair Employment

[Harry Veeder <eo200@xxxxxxxxxxxxxxxxxxx>]

> Again thia lain of yours is just not compatible with the essential properties
> of interest and  money (ch 17 of the GT) which assures that instantaneously
> flexible relative prices (including exchange rates) can not assure full
> employment---
>
> Paul Davidson


I don't think anybody on this list believes a floating exchange rate by
itself would 'assure' full employment.  Other measures would be needed to
assure full employment. Are you claiming that a floating exchange rate
system is simply incompatible with the goal of full employment? I believe a
floating exchange plays role in the fairness of employment and I doubt it
is possible to achieve a state of full employment by neglecting the fairness
issue.


Harry Veeder