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

[Paul Davidson <PB108928%UTKVM1.BITNET@xxxxxxxxxxxxxxxxx>]

FROM:  Paul Davidson
"      Economics Department
"      523 Stokely Management Center  (615) 974-4221
Doug looks at the glass and sees it half empty, I see it as half full. I
can not believe that humans -- even rentiers are human -- can not be
convinced to change the way the system operates if you can show that that makes
 it possible for everyone to get a bigger absolute piece of the GDP pie.
     I never said the Marshall plan WAS, AS dOUG PUTS IT, designed "out of
charitable instincts" even if it is carried as a UNILATERAL TRANSFER PAYMENT
in the Balance of payments.  Nor, had he read my "Reforming the World's Money"
article in the JPKE, would he have seen  that the incentives built in to my
proposal had anything to do with charity. Finally, Doug has not recognized
that the balance of payments will create the same problem for any nation
whether worker owned or not -- unless there is an intenrational paayments
desirn for putting the onus of the surplus nation(s).

Have a good day!____Paul Davidson
))))_ fax # (615) 974-1686