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Pastimes : Book Nook -- Ignore unavailable to you. Want to Upgrade?

To: Don Lloyd who wrote (411)	2/16/2002 9:48:11 AM
From: Ilaine	Read Replies (1) \| Respond to of 443

Thanks, but you aren't off the hook yet.-g- Human Action was published in 1949. Mundell said that von Mises warned that restoration of the gold at prewar parity would bring deflation. This should mean that he said it before 1925. Anyone could see it afterwards. BTW, Keynes DID warn about it in advance. But Norman (head of Bank of England) knew it in advance, too, but chose to do it anyway for the reasons von Mises gives. He thought wages would be less sticky downwards, because they historically were. If someone has to be screwed, let it be the ones without political clout. However, he did not reckon on the new power of the labor movement in Great Britain. Mundell's address was published in 2000 in something like American Economic Review, so he should have footnotes. I am going to take a look at it at GMU later today.