Small Business History

gumby Here is a table listing the U.S. unemployment rate for three different years:

194014.6%
19424.7%
19441.2%

___

Here, meanwhile, is today’s “analysis” from William C. Dunkelberg, chief economist for the National Federation of Independent Business, as quoted in a New York Times story explaining why “at least through the rest of President [Zer]Obama’s four-year term” it is entirely unreasonable to expect current unemployment levels to drop much:

“You can’t recover quickly from a disaster like we’ve been through.”

Yes, clearly impossible.

ROFLMFAO.

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Heavy Armor
Guest

That sounds like the same Dunkelberg who infected Philadelphia’s AM news station with the same kind of totalitarian market drivel many years ago.

Michael Dawson
Guest
Michael Dawson

You called it, HA:

“He had his own radio show on WPHT 1210 AM Philadelphia every Sunday for 2 years and his editorials were carried by KYW NEWS RADIO for over 15 years until 2007.”

His physiognomy, btw, is just exactly what one would guess: The used car salesman as dismal scientist.

http://www.temple.edu/cla/economics/dunkelberg/index.htm

erm ...
Guest
erm ...

So the fact that the statistics for the three years listed are just prior to (1940) and then during World War II (1942, 1944) escaped you … ?

Not to defend the man you quoted, but those statistics are not from a normal economic recovery — and if we have to depend on war for jobs, which is worse?

Michael Dawson
Guest

You might erm yourself, erm. Since when does full employment policy require war? Just because WWII was the only time our overclass was willing to consider the policy, absolutely nothing else, other than their own priorities and continuing rule, dictates that war is the only possible way to employ everybody. As Keynes said, it is entirely possible to employ half the population to go bury bottles in the woods, and also employ the second half to go dig them up. Except in the case of a total war that threatens to bring them down, capitalists will not permit discussion, let… Read more »