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Re Steve K's [OPE-L:1999]:
> I didn't want to see a serious Y2K effect, since if one occurred then
> in eons hence, revisionist economists would blame the approaching
> Wall Street meltdown on the Y2K bug, and not the market's inherent
> instability.
Yes, the Wall St. market is inherently unstable. All markets are
inherently unstable. Risk, uncertainty, and instability are all
necessary aspects of the commodity-form.
Thus, you haven't really told us (yet) why you think that there is
an "approaching Wall Street meltdown". What, more specifically,
are its causes?
What it be too much to infer from your suggestion that economists
"eons hence" will be discussing this "meltdown", that the
"meltdown" will be of a scale not seen by stock crashes in our
lifetime?
btw, what are other Post-Keynesians saying now about this topic?
In solidarity, Jerry
This archive was generated by hypermail 2b29 : Mon Jan 31 2000 - 07:00:05 EST