Quote of the Day

From Bill Mitchell:

In the midst of the on-going debates about labour market deregulation, scrapping minimum wages, and the necessity of reforms to the taxation and welfare systems, the most salient, empirically robust fact of the last three or more decades – that actual GDP growth has rarely reached the rate required to maintain, let alone achieve, full employment – has been ignored.

 I don't think I need to elaborate, even a little bit.  At least not beyond what I've already said.

H/T to Art.