I think Mr. Greenspan's economic perceptions are locked in the 1960's and 1970's. And the world has changed dramatically since that point in time. So, let us say--let us assume that the floor on unemployment is not 5.5 percent. Let us just say it is 5 percent, half a percent lower.
Tom Harkin: “I think Mr. Greenspan's economic perceptions are locked in the 1960's and 1970's. And the world has changed dramatically…”
Editor's note · Context
Discussing economic perceptions and unemployment rates during a Senate floor debate.
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