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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: pater tenebrarum who wrote (69961)11/2/1999 5:28:00 PM
From: Don Lloyd  Read Replies (1) | Respond to of 132070
 
heinz - (...i much preferred the German BuBa with it's single-minded straightforward mandate to keep the currency's value stable. i don't believe a central bank should worry about macro-economic issues beyond that mandate...)

You DO realize that, according to the Austrian School, keeping stable prices in the face of productivity growth that would otherwise lower them was the fatal mistake of the 1920's.

Regards, Don



To: pater tenebrarum who wrote (69961)11/2/1999 8:25:00 PM
From: BGR  Read Replies (1) | Respond to of 132070
 
Do currencies exist in a macro-economic vacuum, Heinz? And do high interest rates necessarily equal a strong currency?


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