Solow says "large industrial economies have sprouted a more stable structure" Of course, he wrote a catty review of Parker's Galbraith bio. Nobody should ever stray off the beaten path. If they do, they shall be declared a heretic & all their good ideas converted into the conventional wisdom.
On Mon, May 21, 2007 at 11:48:55AM -0700, Jim Devine wrote: > I just got around to reading Solow's article. He writes that: > > >The business cycle has receded in importance, partly because the > large industrial economies have sprouted a more stable structure, and > partly because the lessons that Keynes taught have been learned by > central banks and finance ministries. < > > ergo, expect a recession soon. > -- > Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your > own way and let people talk.) -- Karl, paraphrasing Dante. -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail michael at ecst.csuchico.edu michaelperelman.wordpress.com
