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... abandoning full employment as a policy goal is a big part of what was Revolutionary about the Reagan Revolution. It went from being mostly lip service under Nixon, Ford and Carter to being actively undermined by monetary policy increasing interest rates in response to the threat of getting near full employment.


I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.
by BruceMcF (agila61 at netscape dot net) on Wed Jan 28th, 2009 at 10:42:20 AM EST
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