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Re: the list and Minsky

At 12:17 PM 3/7/97 -0500, Doug wrote:
.. Where is this "fundamental uncertainty"?

Dear Doug: If you look at p. 137 vol 13, of the COLLECTED WRTINGS OF KEYNES
-- Keynes wrote to Joan Robinson "You must not confuse instability with
uncertainty".

I suspect that's good advice... and "bailouts" are the insitutional way the
developed nations  prevent instability!

Paul
Paul Davidson
Holly Chair of Excellence in Political Economy
University of Tennessee
523 SMC, Knoxville, Tennessee 27996-0550
fax # 423-974-1686; phone # 423-974-4221
email: pdavidson@xxxxxxx
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