On 12/4/05, raghu <[EMAIL PROTECTED]> wrote: > Furthermore there are alternative explanations to the imbalances: the > Bretton Woods-II theory and the savings glut theory. The main point of > departure with the "bubble theory" is the alternative theories do not > predict a big/sudden reversal. > --------------------
Hasn't the savings glut hypothesis morphed into the *investment deficit* hypothesis, the latter being more consistent with Keynesian and Marxian analyses? Ian
