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To: Ilaine who wrote (106941)	6/6/2001 2:52:42 PM
From: yard_man	Read Replies (1) \| Respond to of 436258

>>Malinvestment" is something to be determined afterwards, isn't it? << Yes, mostly ... but it is not simply that something turned out to be a "bad" investment. >>Does anyone deliberately invest his/her money in something non-productive? << I would guess not ... >> What is the name of the second guy to invent the radio or the electric light bulb? The one who didn't get the patent? Was his work a waste of time? Did he know that? Did the people who loaned him money know they were throwing their money away? If so, why did they do it? << But the term as used in common parlance has to do only with the differences in invesetment engendered by overly accomodative monetary policy. It is a reasonable question to ask: What failures were due to simply miscalculation on the part of the entrepreuner, other unforseeable economic shifts and what were due to an overly accomodative monetary policy? It's not a terribly easy question to answer because all these things happen simultaneously and sometimes exacerbate one another ...