Andrew wrote
Michael Perelman says my comments were "partially correct."
In what way were they incorrect--I'm no expert here, I'm asking, not
challenging. Relatedly, Michael, do you think Keynesian demand management
could have pumped up demand, and/or kept the price level from falling, if
we had still been on the gold standard?
No. I only meant that monopolization was the first stage in protecting
capital values. Keynesian policies, the second. Keynes was quite clear that
his ideas were incompatible with the gold standard.
-- Michael Perelman Economics Department California State University Chico, CA 95929Tel. 916-898-5321 E-Mail michael@ecst.csuchico.edu