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Politics : Foreign Affairs Discussion Group

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To: Bilow who wrote (54491)	10/24/2002 5:12:02 PM
From: Ilaine	Read Replies (1) of 281500

>>"Beggar thy neighbor" means to devalue your currency. The effect is not one of deflation, but instead one of inflation. << Did you read what I wrote? I said: >>The major economies resisted devaluation for as long as they could, which caused massive deflation.<< Turn the sentence around, it says, "if the major economies had devalued, they would not have experienced massive deflation." >>Your link had nothing to do with "beggar thy neighbor".<< I left out some steps because I've made the argument so many times I thought maybe you had actually read it and understood it.

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