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To: Mark Adams who wrote (4689)	6/10/2001 4:43:59 PM
From: Ilaine	Read Replies (1) \| Respond to of 74559

Very cool article, thanks for the link. It reminds me of something I was reading last night - prior to Adam Smith, people looked on trade as a zero sum game. Smith was the first to articulate the concept that both parties to a transaction felt that they had received an advantage, and probably had. Which reminds me of something I read this morning - Keynes said, "the ideas of economists and moral philosophers, both when they are right and when they are wrong, are more powerful than is commonly understood. Indeed the world is ruled by little else. Practical men, who believe themselves to be quite exempt from any intellectual influences, are usually the slaves of some defunct economist."

To: Mark Adams who wrote (4689)	6/10/2001 7:15:02 PM
From: TobagoJack	Read Replies (1) \| Respond to of 74559

Hi Mark, I had seen this reasoning before and thought at the time (I am about 60% serious) ... 1. True: <<Savings - Investment = Exports - Imports>> if in a self-contained two party system without exogenous developments such as seriously competing exporters, importers, currencies, asset classes; 2. Even if true for a multi-party system, will only be true for a while, until demographics changes; 3. This was probably part of the consideration in (a) pushing the Arab petro-dollars back out into the greater system by hook (Porsche, Filipino labour, tanks and planes) and crook (wars), (b) pouncing on Japan on the subject of free trade, (c) US poopooing Euro and such; 4. The 'perfect' system is always managed to be operated to the breaking tolerance, in all of history, without fail, 5. and thus the extreme danger facing all of us (no place to run), because danger index = probability of dangerous trigger tripping x potential direct and splash damage resulting from tripping; 6. We now collectively live in a house that uses an atomic bomb (slight hyperbole, makes a good image anyway) as the fuse for the television set in the bathroom, next to the tub, while the California power folks are repeatedly opening and closing the big circuit breaker in the sky. Chugs, Jay