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

To: yard_man who wrote (75301)	2/6/2000 10:56:00 AM
From: Don Lloyd	Respond to of 132070

Tippet - [[That said -- I also think that the Austrians have a point about malinvestment that is bad -- encouraged by artificially low rates. I think there are malinvestments which have been made in the last 3 years which are not just enterpreneurial dead-ends ... but which could have been avoided and will be a real drag on economic activity for many years to come.]] Yes, but the REAL problem from the Austrian POV is when the government subsequently intervenes to prevent the orderly and timely liquidation of those malinvestments, freeing up labor and physical resources for productive employment. Regards, Don