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DLW
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Date Joined Apr 2003
Total Posts : 2457
 
   Posted 9/6/2003 5:43 AM (GMT -6)    Quote This PostAlert An Admin About This Post.
You probably learned some of the thinking of Milton Friedman. He has a book titled, "Free to Choose", I think. His students played a role in helping General Pinochet revamp the economy of Chile after Pinochet took over down there.

Yes, the Macroeconomy is a complex system and that does make its management often a manipulation of expectations. I.e., people have to believe that Alan Greenspan is in control as a psychic balm and so they don't do anything rash like put all their savings under their pillow(that's were Doc keeps his savings...Clown).

The problem is that while Prez Bush talked the talk, most experts agree that his tax-cuts were not going to increase domestic spending that much and so the expected impulse effect on the economy would be less than it would be under other possible responses. The concrete results of this may have been that so many people have crossed the poverty line.

dlw


Niebuhr thought that sustained moral energy in politics depended on religion's power to mobilize reason along with self-transcending love. The prophetic tradition, meanwhile, gave Jews and Christians some protection against the temptation to identify their social causes with God's will. Lincoln's second inaugural address expressed the prophetic insight, "The almighty has His own purposes."

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