greater productivity.
Fred Foldvary
Santa Clara University
than zero, there being no free alternative, why
would the lot owner not charge a positive price?
Fred Foldvary
--- Ricardo Gambirasio [EMAIL PROTECTED] wrote:
I fail to see what's so special about parking.
Parking as such is indeed not a special case.
It only illustrates the general case.
also in software,
I don't see how software, etc., are similar.
With software, shoes, etc., I pay for actual use
?
Fred Foldvary
fountains have no charge. Lots of services
are priced at zero.
Fred Foldvary
when the lot is full?
Fred Foldvary
to an allocation with prices.
No, that is not a correct inference.
Is the marginal consumer the last to get a
space, or the first to be turned away?
It is the next one to get a space. Nobody gets turned
away, because when the lot is full, there is a
positive price.
Fred Foldvary
be culpable.
Today, everybody expects the cavalry that trots to the
rescue to be governmental.
Fred Foldvary
slaughters, Rwanda
genocide, etc.
Fred Foldvary
Are you saying that there's a
real cycle of real estate
that takes 18 years from (from peak to peak or from
peak to trough?)?
David
That is the usual cycle, although there are
exceptions.
That
seems different from your initial contention that
the current bubble has been
caused by
If the real estate cycle is based on government
expansion of money,
David
It is based on that and also on fiscal policy and the
inherent nature of real estate rentals and
construction.
why has it been the
same under three or four
different monetary systems?
It does not matter much to the
If government has caused a real estate price
bubble by artificially
lowering interest rates, how can it have an 18-year
cycle,
David
Because real estate construction takes years, and
recovery from a downturn takes years.
An exception is an inflationary boom that is not a
real economic
? No freedom is lost.
It is not immoral, since there is no coercion.
One situation where this question comes up is in designing 401k plans.
What exactly is the moral issue?
Fred Foldvary
public as in public sector.
Collective goods can be provided by private firms or by government.
Solved publicly is ambiguous because it can mean solved by a group or
solved by government officials.
Fred Foldvary
goods are facts to which economists apply theory like any
phenomenon.
There is nothing inherently good or bad about public goods.
Fred Foldvary
green space, as do land trusts and
proprietary communities such as Walt Disney World.
See my book * Public Goods and Private Communities *,
chapters on Arden Village, the Reston Association and Walt Disney World.
Fred Foldvary
Fraud is not part of the market.
Fred Foldvary
--- Ron Baty [EMAIL PROTECTED] wrote:
Fraud should not be part of the market but always has been and will
likely continue to be part of any realistic market
A pure market consists of voluntary economic acts, and theft, including
fraud, has
that there is magic,
e.g. Santa Claus and the tooth fairy. If parents would keep it real with
children, children would be less likely to belive in getting something for
nothing or something beyond the possibility frontier.
Fred Foldvary
Fred Foldvary Wrote:
The Fed buys bond and in effect pays with a check.
john hull [EMAIL PROTECTED] wrote:
To buy back bonds, it must have sold them at
some time in the past.
No. The Fed does not buy the bonds back. They buy bonds in the market,
just as any buyer would. If you buy bonds
it,
and whether onecan removeit in replying.
Fred Foldvary
and less happy.
What data makes it seem so?
What do list members think of this?
Where's the evidence?
If people are too affluent, could they give some
of their money away and become happier?
This is in fact what many of them do.
Fred Foldvary
=
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go hand in hand.
David Levenstam
Success in what? Many high-IQ persons do not have wealth as their highest
goal. Also, chance falls equally on the high and low IQs.
Fred Foldvary
=
[EMAIL PROTECTED]
more borrowing, other things
equal, but with higher inflation and greater business uncertatainty, other
things may not be equal.
Fred Foldvary
=
[EMAIL PROTECTED]
of housing, which then requires a bigger credit. The credit reduces tax
revenue, and so for a given budget, other taxes get increased, so the
result is further distortion of prices and a greater excess burden on the
economy. This treats the symptom rather than cure the cause.
Fred Foldvary
=
[EMAIL
demanded for loans exceeds the
quantity of loanable funds from savings, so this scarcity drives up the
rate just as with other prices.
Fred Foldvary
=
[EMAIL PROTECTED]
If you measure wages in desk calculators instead of dollars, I'm sure
they've gone up substantially! ;-)
--Robert
And if you measure wages in units of a real-estate price index, they have
gone down substantially!
Fred Foldvary
=
[EMAIL PROTECTED]
?
Sampo Syreeni, aka decoy - mailto:[EMAIL PROTECTED], tel:+358-50-5756111
That does not explain it, because many folks would save SOME of their
income even if the interest rate were zero.
Fred Foldvary
=
[EMAIL PROTECTED]
come close to.
Fred Foldvary
=
[EMAIL PROTECTED]
hours
exchange with dollars or euros. They are trading an hour of labor for a
pound of carrots regardless of the exchange rates with fiat money.
Fred Foldvary
=
[EMAIL PROTECTED]
--- Sampo Syreeni [EMAIL PROTECTED] wrote:
On 2003-10-30, Fred Foldvary uttered:
So basically this is a response to credit constraints.
Another reason people may be inclined to use local currencies is that the
narrow circulation and informal accounting usually associated with them
make
maturity, then yes, you will have a profit if
the inflation rate has not risen to offset the after-tax gain. If the
interest you pay on your borrowed funds is tax-deductible but the interest
you receive is not taxable, so much the better.
Fred Foldvary
=
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are not crying.
Fred Foldvary
=
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.
Fred Foldvary
=
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. Also, the price of gold was depressed for so long that
once demand rose, others took note and bought.
Fred Foldvary
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also agrees not to sell the book. It would be like a covenant
that goes with the book.
Fred Foldvary
=
[EMAIL PROTECTED]
rent their
premises would get no surplus from being employers.
Fred Foldvary
=
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farmer
gets a horse, but that is to achieve, rather than rise above, subsistence.
Fred Foldvary
=
[EMAIL PROTECTED]
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