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Pastimes : Ask Mohan about the Market -- Ignore unavailable to you. Want to Upgrade?

To: George Acton who wrote (11649)	12/16/1997 2:29:00 PM
From: Cynic 2005	Read Replies (2) \| Respond to of 18056

<<One of the reasons he's controversial is that morally virtuous behavior at individual level adds up to a destructive effect at the level of the whole economy. >> George, couldn't agree more. It is more like Wall Street wanting people to save more (through 401k etc.) and spend more for a robust economy. The best of all worlds for an economy is called, well, a myth! Right Pete? -g- -Mohan

To: George Acton who wrote (11649)	12/17/1997 11:18:00 AM
From: Mike M2	Read Replies (1) \| Respond to of 18056

George, there are several economic perspectives on the causes of the Great Depression.In my opinion, the Austrian view makes the most sense the bust was the inevitable result of a boom created by inflation of money and credit which creates malinvestments and maladjustments in the economy. In todays world we see that easy money has created overinvestment in Japan and SE Asia and overconsumption in the US. I do not believe that the bust can be prevented. Mike