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Gold/Mining/Energy : Gold Price Monitor

GDXJ 97.81

+0.9%

4:00 PM EST

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To: Don Lloyd who wrote (86334)	6/4/2002 7:03:19 AM
From: E. Charters	Read Replies (1) of 116762

"Since there are a large number of significant and unmeasurable factors that affect the purchasing power of money, it is completely futile to suppose that it can be stabilised better than the free market dynamically adjusts. Nor is it desirable as the attempts produce both undesired side effects and instability." i. Justify and expand upon this statement, if you agree with it, with reference to the theories of Keynes or Galbraith, - and Adam Smith. How does this statement agree with Veblen's theory that free markets are the principle component that supplies surplus capital, thus creating the economic basis for a "leisure class"? ii. In the reference above, is the principle of marginal utility necessary to consider to allow the market to adjust to conditions of change in supply? In other words, if their is a time lag in the "invisible hand" of market correction, due to percieved oversupply of goods, will perceptions of the utility of goods change their worth?

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