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Politics : Ask Michael Burke
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To: Tommaso who wrote (78881)4/2/2000 12:28:00 PM
From: Freedom Fighter  Read Replies (2) of 132070
 
T,

>>Indeed, the 1920s have never been sorted out to everyone's
satisfaction.<<

I agree with your statement, but I think there is also a political component to the debate.

One group believes that "bubbles" and economic misallocations are caused by unsound money, fractional reserve banking, and central bank intervention.

The establishment believes (or says) otherwise.

Getting bankers, Wall St., politicians, and hired economic guns to admit that a system that benefits them to an extreme was the core reason for the 20s boom and 30s bust (and other booms and busts around the world) is a lot to ask for. If anything they will argue for more intervention and control of money.

So I think there IS a debate, but there is also a lot self-interested denial at work.

Wayne
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