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Pastimes : Austrian Economics, a lens on everyday reality
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To: LLCF who wrote (105)1/12/2002 1:25:42 PM
From: Don Lloyd  Read Replies (1) of 445
 
DAK -

Thanks. It is interesting, even if many of his other public pronouncements have tended to be nonsense. I don't see it as especially Austrian, but it is not in conflict with Austrian concepts either. He is certainly correct in rejecting the necessity of stability. From an engineering point of view, the same feedback mechanisms that may exist in any system can produce either stability or instability depending on the timing and phasing of the feedback.

Regards, Don
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