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Thursday, January 12, 2006


Arthur Eckart

Unfortunately, no one is willing to lead, because they know the consequences. Western Europe won't accept lower output and higher employment, or reduce wage rigidies and labor immobilities. Japan won't lower production, e.g. through lifetime employment or exports. China and India desperately need employment, etc. So, when the U.S. sneezes, the rest of the world will catch cold, and it'll take a global recession to move economies more into balance.


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Japan won't lower production, e.g. through lifetime employment or exports. China and India desperately need employment, etc


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