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Re: Why economists do not care about high rates of unemployment w

Paul,
     In the original, probably naive, literature (see the overly-
cited Grandmont paper of 1985 in _Econometrica_ or his 1986 _JET_
piece) government intervention actually "de-chaoticizes" the
equilibrium.  Everything is made just hunky-dory.  Although I
may think this simplistic, I nevertheless think your "anti-
nonlinear multiple equilibria modelers" broadside is misdirected.
Barkley Rosser
JMU
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