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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: yard_man who wrote (66337)	7/18/2006 7:49:20 PM
From: CalculatedRisk	Read Replies (1) of 110194

I think people are very innovative. If we provide the proper incentives (like Dr. Stiglitz suggestions) the market will deliver the solutions. I doubt it will mean slower economic growth - in fact I wouldn't be surprised if it helps with economic growth! I remember the debate over CFCs and the ozone layer. My college professor (Sherwood Roland) was awarded the Nobel prize for his work on CFCs and the ozone. People thought if we banned CFCs, air conditioners would become too expensive. That proved wrong. People are innovative! No one is talking about banning the use of fossil fuels. Both Feldstein and Stiglitz are suggesting economic incentives to spur innovation. I think that is the correct approach.

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