to join two threads, some similar principle to this is why Wall Street doesn't typically have a lot of time for companies that claim a need to sacrifice profitability "in the short term" for the good of long term investments!
-----Original Message----- From: PEN-L list [mailto:[EMAIL PROTECTED] Behalf Of Robert Scott Gassler Sent: 22 June 2005 16:22 To: [email protected] Subject: Re: "No cut in pay" I remember reading Michael Intriligator's book on optimization a long time ago. Its chapter on "the maximum principle" of dynamic optimization or something said that if you are on the optimum long-run path, all you need to do is optimize in the short run. If not, not. That suggested to me that what is good in the long run has to be good in the short. Less possibility for detours into evil in the name of eventual good. 32.2.629.27.15
