Re: Interest Rates and inflation

["John O'Donnell" <jackodonnell@xxxxxxxx>]

"Alan G. Isaac" wrote:
>
> On Wed, 20 Dec 2000, Harry Veeder wrote:
> > Whether or not it concerns inflation or the
> > money wage rate, John O. is saying observed
> > relations are not necessarily causal
> > relations.
>
> <sarcasm>
> Certainly economists have never had such
> a thought enter their heads!
> </sarcasm>

Many do seem to refuse to allow reality to disturb their
beliefs, such as those who bring irrelevant correlations
like the Phillips curve into economic analyses.

--
			-- jbod

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