Re: The credit crunch - an effect not a cause

On Sat, 10 May 2008 20:57:17 +0100, Robert Henderson
<philip@[EMAIL PROTECTED]
> wrote:

>In message <ag3b249k9lqp7hdgi86bshvoomoodmpbgd@[EMAIL PROTECTED]
>, abelard 
><abelard3@[EMAIL PROTECTED]
> writes
>>>
>>>On the level of  common humanity  the hope must be that  the crisis is
>>>contained  reasonably  quickly, because even as things stand it will
>>>have hurt large numbers of people both here and abroad. But there is
>>>danger in a  rapid resolution, namely, that  the underlying reasons for
>>>this economic crisis  will not be admitted or even identified by those
>>>responsible for  the  operation of the economy  because to do so would
>>>require a rejection of the dominant economic  creed of the moment:
>>>laissez faire..
>>
>>'pump priming' *is* a rejection of laissez faire

>That is precisely my point:
>: when things go wrong, the laissez faire crew dump the laissez faire. 

that's not the way it reads to me....but on rereading it is
     an incredible mix of muddle and ambiguity :-)

regards....

-- 
web site at www.abelard.org - news comment service, logic, economics 
 energy, education, politics, etc 1,552,396 do***ent calls in year past
--------------------------------------------------------------------------------
  all that is necessary for       []     walk quietly and carry
  the triumph of evil is that      []           a big stick.
  good people do nothing     []   trust actions not words
                    only when it's funny -- roger rabbit
--------------------------------------------------------------------------------