Re: Obituary: Franco Modigliani - Modigliani's articles on corpor

["Niggle, Christopher" <Christopher_Niggle@xxxxxxxxxxxx>]

 Michael: welll I don't have the article here, but as I recall about 8 or so
assumptions are set out, essentially sketching out complete markets, free
information, etc.  Modigliani's point in the interview is that in the real
world, debt and leverage rations WOULD matter, and that the profession
hadn't gotten his point.

Chris

-----Original Message-----
From: Hudsonmi@xxxxxxx
To: Christopher_Niggle@xxxxxxxxxxxx; matias.vernengo@xxxxxxxxxxxxxxxxxx;
pkt@xxxxxxxxxxxxxxxx
Sent: 9/27/2003 5:00 PM
Subject: Re: Obituary: Franco Modigliani - Modigliani's articles on corpor

Could you please explain these assumptions. Dropping them would seem to
be a key  start to describing economic reality.
      For by extension, M's principle would mean that debt-ridden
economies aren't worse-off than debt-free economies.
      Michael Hudson