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

To: BGR who wrote (77190)3/8/2000 9:02:00 AM
From: Freedom Fighter  Read Replies (1) | Respond to of 132070
 
BGR,

>>Solow argued convincingly in his book Inflation, Unemployment and Monetary Policy that liquidity trap and pushing on a string are largely market myths<<

History suggests that that is only true if currency collapse is a desirable alternative. Then again there's a lot a people that have won Nobel prizes for political reasons and not sound theory.

Wayne



To: BGR who wrote (77190)3/8/2000 10:10:00 AM
From: Mike M2  Read Replies (1) | Respond to of 132070
 
BGR, do you realize that the banking system creates money by making loans? Credit is debt Is there no amount of debt which you consider excessive? Are you concerned about how this credit is used whether it is for productive purposes ( increasing the capital stock) or for speculative purposes. Put you thinking cap on before you answer this one and you dont need a nobel prize in economics to answer this one -g- mike ho ho ho


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