O Intermitente<br> (So long, farewell, auf weidersehen, good-bye)

O Intermitente
(So long, farewell, auf weidersehen, good-bye)

sexta-feira, junho 11, 2004


No Cafe Hayek Don Boudreaux apresenta factos que desmentem o artigo de Paul Krugman no NYT.

Consider this statement of his in today?s New York Times: "Despite the rapid growth of 1983 and 1984, over the whole of the Reagan administration the unemployment rate averaged a very uncomfortable 7.5 percent."

The impression this statement gives is that, despite "rapid growth" in 1983 and 1984, unemployment rates were little affected - that these rates remained uncomfortably high throughout Reagan's presidency.

Krugman gets away with this claim by lumping the high average annual unemployment rates of the early, pre-growth years of Reagan's presidency (1981-82) with the rates of those years after the growth began (1983-89) - generating an average annual unemployment rate indeed of 7.5%.


Several facts are worth noting. Here are some:

1) when Reagan left the White House, the unemployment rate was a full two percentage points lower than 7.5%; (To be even more precise, the unemployment rate had fallen even further, to 5.4%, in January 1989, the month Reagan really left the White House.)

2) for every year from 1983 through 1988, the annual unemployment rate fell;


4) the significant flattening of federal income-tax rates enacted in 1986 immediately preceded significant reductions in unemployment rates.

posted by Miguel Noronha 3:43 da tarde

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"A society that does not recognize that each individual has values of his own which he is entitled to follow can have no respect for the dignity of the individual and cannot really know freedom."

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