there's a fourth risk: a global recession would cause steep falls in raw material prices, mining revenues, and scarcity rents (because demand and supply are both inelastic).
On 11/10/06, Michael Perelman <[EMAIL PROTECTED]> wrote:
Ian Murray sent me this pointer. Interesting. http://www.spiegel.de/international/spiegel/0,1518,druck-436987,00.html -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail michael at ecst.csuchico.edu michaelperelman.wordpress.com
-- Jim Devine / "In economics, the majority is always wrong." -- John Kenneth Galbraith
