--- Marko Paunovic <[EMAIL PROTECTED]> wrote:
> OK. Then, as long as the expected profit from building a factory is
> higher than zero, I would not lend the money at zero interest rate.
If at a zero rate of interest, the quantity of savings exceeds the quantity
of borrowings, savers would earn zer
> 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]
--- john hull <[EMAIL PROTECTED]> wrote:
> Why are we better off today?
> (Better products & two wage households would be a
> start, I guess.)
Better products, yes, but not necessarily two-wage households.
If the price of housing goes up substantially, a spouse may be induced to
work for wages, b
--- Wei Dai <[EMAIL PROTECTED]> wrote:
> How would you explain why the IQ distribution of the general
> population does not look more like that of Jews?
Flight.
Centuries of persecution has made Jews flee a territory many times. The
smart ones such as Einstein flee, and the less intelligent stay
Whenever someone says that the government needs to stop immigration,
respond "there is constant immigration into my state, county, city and
neighborhood from other states, counties, cities and neighborhoods. I
oppose laws to limit that. Don't you?" Then add: "there is constant
immigration i
Date: Fri, 05 Dec 2003 16:33:07 -0800
From: Fred Foldvary <[EMAIL PROTECTED]>
John Hull:
> >For some reason, I can't get it straight in my head why the risk-free
> >rate of interest would be higher than zero.
Sampo Syreeni:
> The easiest example I know of is, would you be happy saving all of you
I recall a Japanese econ grad student telling me that in fact real interest
rates were negative for some span and people were STILL saving in the late
nineties in Japan. He also blamed several bubbles at the time (notably,
real estate in Japan) on this. Interesting if true... (Anyone know the
de
