September 28, 2005

Resilient Economies

I note without comment that in a September 19 article on the success of economies and their central bankers in various countries since 1986, the Wall Street Journal observed:


The four English-speaking countries [Australia, Canada, US, UK] have done particularly well. That's because their financial and labor markets are less regulated, so they are more "resilient and spontaneously self-correcting," says Jean-Philippe Cotis, chief economist at the Organization for Economic Cooperation and Development. If a worker loses his job in one industry, he is more likely to take one at a lower wage in another. Firms are more likely to cut prices and shrink capacity in the face of falling demand. This, Mr. Cotis says, makes it easier for a central bank to cut interest rates, and for those cuts to flow through to home buyers and businesses.

Posted by Peter Saint-Andre at September 28, 2005 07:23 PM
Comments

I haven't read the article and, probably, should. But do all those figures and discussions include the public sector?

Posted by: Helen at September 29, 2005 07:44 AM

the notebook movie toshiba notebook computer hp pavilion notebook sager notebook notebook mouse sony notebook computer hp notebook acer notebook vaio notebook compaq notebook notebook mouse notebook cases buy notebook notebook mouse notebook shop hewlett packard notebook used notebook computer notebook sale sager notebook the notebook movie dvd

Posted by: compaq notebook battery at October 24, 2005 09:09 AM