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To: Ilaine who wrote (106918)	6/6/2001 1:48:26 PM
From: yard_man	Respond to of 436258

I didn't say that ... I do belive monetary policy is one very potent government instrument that causes much distortion. (I use that modifier government loosely as AG is hardly accountable to anyone save his buddies) Government subsidies are another ... government regulations can also be a force of distortion. And not all such distortions are bad as I don't think markets can allocate all resources in a manner necessarily in the public interest. We need a military, we need road systems -- a whole range of public infrastructure.

To: Ilaine who wrote (106918)	6/6/2001 1:48:32 PM
From: yard_man	Respond to of 436258

I didn't say that ... I do belive monetary policy is one very potent government instrument that causes much distortion. (I use that modifier government loosely as AG is hardly accountable to anyone save his buddies) Government subsidies are another ... government regulations can also be a force of distortion. And not all such distortions are bad as I don't think markets can allocate all resources in a manner necessarily in the public interest. We need a military, we need road systems -- a whole range of public infrastructure.