I am only guessing, but "Jubilee" probably refers to the Biblical practice of forgiving debts every seven years, and "Stochastic" probably means that it would happen at random intervals, rather than at preordained seven-yearly ones. On the whole, I feel that Stiglitz, Krugman et al, might be a little while in coming round to supporting this one ...
-----Original Message----- From: Devine, James [mailto:[EMAIL PROTECTED]] Sent: 20 August 2002 14:46 To: 'Ian Murray '; '[EMAIL PROTECTED] ' Subject: [PEN-L:29639] RE: Re: Re: Stiglitz what is the "Scholastic Jubilee"? ---------------- If Stiglitz is calling for scrapping the IMF maybe it's time to revive Peter Dorman's suggestion of the Stochastic Jubilee; clearly it would appeal to the more radical denizens of "information economics"? Smash the tragic tautology of debt............. Ian ___________________________________________________ Email Disclaimer This communication may contain confidential or privileged information and is for the attention of the named recipient only. It should not be passed on to any other person. Information relating to any company or security, is for information purposes only and should not be interpreted as a solicitation or offer to buy or sell any security. The information on which this communication is based has been obtained from sources we believe to be reliable, but we do not guarantee its accuracy or completeness. All expressions of opinion are subject to change without notice. All e-mail messages, and associated attachments, are subject to interception and monitoring for lawful business purposes. (c) 2002 Cazenove Service Company or affiliates. Cazenove & Co. Ltd and Cazenove Fund Management Limited provide independent advice and are regulated by the Financial Services Authority and members of the London Stock Exchange. Cazenove Fund Management Jersey is a branch of Cazenove Fund Management Limited and is regulated by the Jersey Financial Services Commission. Cazenove Investment Fund Management Limited, regulated by the Financial Services Authority and a member of IMA, promotes only its own products and services. ___________________________________________________
