Re: [Pen-l] A fine how d'ya do

[Jim Devine <jdevine03@xxxxxxxxx>]

Mighty Max Sawicky wrote:
> "Just as there is no regularity in the timing of business cycles,
> there is no reason why cycles have to occur at all." -- C. Romer
>
> http://www.econlib.org/library/Enc/BusinessCycles.html

she continues later: "Business cycles do occur, however, because
disturbances to the economy of one sort or another push the economy
above or below full employment. Inflationary booms can be generated by
surges in private or public spending."

It's amazing how ortho-economists think: there's no reason why cycles
have to occur _in their theory_ (a woefully inadequate one at that),
so they say there's no reason why cycles have to occur -- period.
-- 
Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own
way and let people talk.) -- Karl, paraphrasing Dante.
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