Re: Money supply

["John Gelles" <johng@xxxxxxxxxx>]

    Fast forward to a time when individual spending,
    to keep fit and out of trouble, and public (national)
    spending, to satisfy public need, are captured by
    standard measure and stored for instant use.

    At that time, it will be easy to display all useful
    historical patterns (leading up to five minutes ago)
    of price and aggregate spending.

    Let us say the display is presented to all nations'
    navigators, much as are instrument displays today
    aboard ships sailing with great cargo weights and
    very wide turning circles.

    The object of knowing so much will be too keep
    supply from getting short, buyers from paying
    too slowly, and future plans from looking more
    uncertain than systems users will have proved
    necessary.

    All this implies that central banking and free trade
    will grow up to become something better.

    And why not? Never did we ever think in the
    20th century that every SKU transaction would be
    mirrored on line to a national economic system
    that catered to personal choice at no cost to
    individual economic security. Yes it was new
    and different. But it was not flawed and mired
    in controversy.

    Men in suits in banks (central and other) and
    in corporate board rooms have not inherent
    unlimited right to live the sweet life in profound
    ignorance while the ship of states heads for the
    rocks.

    Let them earn their deserts by improving money
    and price until every voter can see the economy
    beginning to make some sense.

    ================================
    Above in reply to discussion of money, price
    and national priorities as they have been studied
    and affected by Messrs. Volker and Greenspan
    in the recent past--culminating with the meeting
    in Monterrey Mexico where tears were shed for
    the poor.