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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (3230)	11/19/1998 7:50:00 AM
From: Lee	Read Replies (1) \| Respond to of 12475

Morning Mohan,..Re:. The demise of NAIRU Thanks for the article Mohan. This is another holdover of economic theories which may have been surpassed by the change in the composite mix of GDP. Since service has overtaken manufacturing significantly, and since technology greatly enhances productivity, some of the older theories may have to be adjusted. <g> Not only can we do things more efficiently through better technology, but it takes fewer of us to do them. That means that although we work more efficiently, we have managed to create enough new jobs that our unemployment remains low. In fact, it's getting close to the point that the economy will slow anyway due simply to the fact that there are no more bodies to hire! Regards, Lee