Subject: AUT: Re: FW: tsn.ca: Dutch win bad for economy (fwd)
Date: Tue, 13 Jun 2000 08:23:36 GMT





----Original Message Follows----
From: Sarah Riegel <7srr-AT-QSILVER.QUEENSU.CA>
Reply-To: Forum on Labor in the Global Economy <LABOR-L-AT-YorkU.CA>
To: LABOR-L-AT-YORKU.CA
Subject: FW: tsn.ca: Dutch win bad for economy (fwd)
Date: Mon, 12 Jun 2000 13:13:07 -0400

More evidence against neo-classical economics...

 > DUTCH WIN BAD FOR ECONOMY
 >
 > BRUSSELS - While soccer fans in the Netherlands will be cheering their 
team on
 > to victory, there is at least one group of Dutch supporters who are 
hoping the
 > opposite happens to the home side.
 >
 > Dutch economists are urging the national team not to win the European
 > Championship for the good of the country's economy.
 >
 > ABN-Amro says the feel-good factor of winning the tournament would boost
 > consumer spending and overheat the economy which would bring inflation
 > pressures to an already booming country.
 >
 > "A further boost to confidence (in the Netherlands) could be harmful, and 
that
 > is why we would like to call on the sense of national duty on the part of 
the
 > Dutch players and managers," the economists said in an analysis entitled
 > "Soccernomics".
 >
 > Despite their claim, the economists are well aware their team is 
considered
 > among the favourites to hoist the championship and they do believe the 
Dutch
 > squad will prevail. But from an economic standpoint, a German win would 
be the
 > ideal scenario because their economy is big enough to handle such a 
football
 > inspired boost.
 >
 > For More Information Visit http://www.tsn.ca
 >
 > Copyright (c) tsn.ca and/or tsn.ca's Content Partners. All rights 
reserved.
 > Reproduction in whole or in part in any form or medium without express 
written
 > permission of tsn.ca is prohibited.
 >


Sorry - I don't understand the reference to neo-classical economics. What is 
being described sounds classically Keynesian to me. Consumer demand via the 
multiplier with the State used to maintain inflation within acceptable 
bounds by deliberate austerity. Something workers threatened to crack in the 
1970s - which to my mind helps to account for where we are now?

Surely the use of words like overheating, inflationary pressure indicate OUR 
power to disrupt their plans - something to celebrate. No?

DG
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