United States... Full Employment?

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Weren't we just in a recession? In fact, I thought we still were. Not so according to some statistics I read this evening in this week's edition of The Economist. They published a ranking of the output gap--the difference between actual and potential GDP--of some of the world's major economies. Optimally, an economy should have an output gap of zero. This would mean that the economy would be producing at full employment with optimal levels of inflation. A positive inflation gap would be indicative of accelerating inflation and economic "overheating", while a negative gap would be caused by high unemployment and recessionary characteristics. According to the statistics (obtained from the Organization for Economic Cooperation and Development) the output gap of the United States is "nil" (I love the British). Maybe the recession isn't so bad anymore, after all...

20 Comments

Me said:

On Thursday, while pondering the utility of money, I discovered that the world needs more rich people.

Me said:

Adam, do you know how to program well (not a very descriptive word, huh)? Are you afraid of illegalities?

I will have more information later.

Me said:

Ok. I've got some more information. The language will probably be C++ (java is too slow). Also, advanced socket prgramming/hacking will be greatly appreciated (I have no skill in this area. I barely know what it is). I'd be willing to cut any interested offers in for an equal share of my equal share (maybe more depending on skill, experience, and mostly effort).

Adam Anderson said:

I think my overall experience programming can best be described as "dabbling". I've spent time with C++, Python, and Java, although the Java was awhile ago and I wouldn't call myself proficient in any of them. I have no idea what "socket programming" is, but I could probably learn. If there is one thing that I am best at, it is learning things to an acceptable level of proficiency really quickly.

Me said:

Ok, learn!

Colin said:

Umm, Ted, what the heck are you proposing?

And I'm wondering just how we can be at full employment when empolyment is around 5%, when frictional umemployment is, what was it, 2%? But I know we're not really in a deep recession now, although I wasn't aware that we were at the optimum level of growth.

Me said:

If anyone asks, this never happened.

Me said:

Why do you ask, Colin? Do you have C++ socket hacking experience?

Anyways, I lebieve you, Colin. 5% empolyment is nowhere near full employment.

john said:

I know how to program in C++ and use sockets. I'm surprised java is too slow. Anyway, you'll waste a bunch of time on C++ unless you know it well.

Me said:

I'm not talking about using sockets. I mean advanced socket hacking.

Me said:

Java is too slow because of it's cross-platforming stuff. The program needs to work quickly and efficiently.

Me said:

*its

I was going to type something else.

john Anderson said:

I have nothing against C++, except for the knowlege you'll need to succeed. Alternatively, you might consider compiling java with gcj, for speed -- should be fast enough for everything except graphics. You should be more specific about what you mean by socket hacking, and I'll let you know your options.

Me said:

At this point, socket hacking may even be avoidable if we can salvage and modify code from another project. Basically, we wish the computer to automatically interpret incoming signals, and then quickly generate and output our own signal.

Me said:

Here is the head developer's reasoning:

Since this is a Windows program (not embedded) where we have enough memories, an object-oriented analysis and design approach is better so that many classes can be reused (portability), code rewritting can be eaiser, ..., therefore, C++ is preferred. (I haven't used JAVA for many years, the time I used it it was way too slow because it had some virtual machine that makes it crossplatformable but slowing down its performance).

Me said:

Also, this isn't just a pet project. We have a few professional software developers working on this.

Adam Anderson said:

Ok Ted, now that you have rather incessantly piqued everyone's curiousity I think that people are really starting to wonder whether you would tell us what exactly your project is, or perhaps you have gone insane. Two equally probable scenarios.

Me said:

Two equally probable scenarios that aren't even mutually exclusive.

The project is against the law and at this time has a small chance of continuing. The time commitments are just too large and reward-risk ratios too small.

Helen said:

Wow, at least "crossplatformable" is a pretty cool word...

Me said:

Almost as cool as "smoltification."

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This page contains a single entry by Adam Anderson published on August 29, 2005 12:00 AM.

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