michael a. lebowitz wrote: > Define 'work'. Define 'long run'. Why do you think the point about > currency controls is to 'protect a currency's value'?
I'm sorry. I missed the purpose of the Venezuelan currency controls. What was the point of them? Usually it's to shore up the exchange rate of a currency. To me, "long run" does not refer to the imaginary long run of neoclassical economics. In this context, it's the period when negative side-effects start to outweigh the immediate benefits. -- Jim Devine / "It has always been the prerogative of children and half-wits to point out that the emperor has no clothes. But the half-wit remains a half-wit, and the emperor remains an emperor." -- Neil Gaiman _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
