economic globalisation

Jim Jaszewski jjazz at
Tue Aug 22 01:15:44 MDT 1995

On Tue, 22 Aug 1995 P8475423 at wrote:

> The key to this line of thinking is that the money supply is endogenous.
> It is a product of the entire system, and not something either controlled
> by governments (the monetarist position, now pretty thoroughly
> discredited) or given by conditions of commodity production (which I
> think some people regard as marxist).

	Seems to me the Official Party Line in everyday life is that
Milton Friedman is still right, and Reagan's policies are still in

	Slimy Newt is jes' carrying on the tradition...

> Minsky is also much less optimistic that such instability can be
> designed out of capitalism than with traditional Keynesians such
> as Paul Davidson. In other words, to some extent he argues that
> the root cause of financial instability is capitalism itself.

	Fancy that.

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Jim Jaszewski <jjazz at>

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