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Politics : Foreign Affairs Discussion Group -- Ignore unavailable to you. Want to Upgrade?

To: KLP who wrote (49889)	10/8/2002 4:23:17 AM
From: frankw1900	Respond to of 281500

KLP: ...if we don't have technology for real growth in this country, and for that matter, the world.....what else do we have for growth...? We could have quality. How much obsolescent plant producing mediocre products is there that needs replacement? How many rotten investments still need unwinding? What incentive is there to make loans when the return is so close to zero? Monetary policy is used up - have to reduce taxes. How can central banks control their money supply numbers when they have no market set interest rates for feedback? They set the rates - no feedback. How many foolish tariffs and subsidies in the developed world inhibit growth in the undeveloped? Growth is not tied directly to technology but to conditions which foster growth and, incidentally, new technology.