I find his argument about full employment to be pretty odd, considering that we're still hovering around record-low unemployment. So much so that the argument now isn't unemployment, but that the new jobs aren't good. Better they be working in mines, I guess.
RAW | Homepage | 10.27.05 - 9:51 am | #

Those favoring full-employment measures use the lowest numbers in living memory (in this case, the brief brush with 4% during the Roaring Nineties) as a benchmark; thus 5% unemployment is now "high".
Sammler | Homepage | 10.27.05 - 10:42 am | #

Here's an example.
Sammler | Homepage | 10.27.05 - 12:43 pm | #