Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Pastimes : Let's Talk About Our Feelings!!! -- Ignore unavailable to you. Want to Upgrade?

To: Dayuhan who wrote (57815)	10/7/1999 10:25:00 PM
From: nihil	Respond to of 108807

It's very hard to learn. I believe some of our present prosperity is the result of real learning by economists of many different schools. But look at how many mistakes have been made in the past. The collapse of monetarism and Friedmanism in the Reagan years is a good example. Friedman has an important point, as did Keynes, but for each theory there is a time and place under heaven. Japan has almost learned that you "cannot push a string" and will have to take a dose of good old depression Keynesian to recover IMO. They need a round of almost runaway inflation. We need to watch inflation like hawks, but be careful not to kill off this boom by excess caution --- very, very hard to do. As for IMF experts, their economics is very good but their sociology, anthropology, and political economy are not up to snuff. It is seldom possible to do exactly what the economic models prescribe. I think if I were running things I would require everyone with a knife over 6" long to take a short course in macroeconomics before I recued their economy. If they made less than a C, they would have to turn in their machetes, krises. etc