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

To: BGR who wrote (72918)	1/5/2000 3:51:00 PM
From: Mike M2	Read Replies (1) \| Respond to of 132070

BGR, in the note Hayek explains inflation as defined by the Austrian school -read it again. My prediction: When the bubble bursts all schools of economic thought will be dicredited except for the Austrian school. mike

To: BGR who wrote (72918)	1/5/2000 4:02:00 PM
From: Freedom Fighter	Read Replies (1) \| Respond to of 132070

BGR, I believe this is the Austrian view on the subject. Monetary recklessness need not cause CPI inflation, but it usually does. It can cause asset inflation without CPI because the prices of assets are excluded from CPI. It can also cause no price inflation at all (in the conventional use of that word) due to significant productivity increases while still causing other economic imbalances. Of course we need to keep in mind the degree of recklessness. Wayne