ZPG=economic ruin?

Roger A. McCain mccainra at DUNX1.OCS.DREXEL.EDU
Thu Mar 30 11:18:40 CST 1995

In assessing these economists, it is a good idea to keep in mind the
fundamental method all except Friedman share: First, assume away all
problems and then, on the basis of that assumption, demonstrate that there
are no problems as long as the market is left to itself. Not difficult.
Friedman's method is a little more complex and difficult.

One of the nicest examples of this is Edwin Cannan's "Economic Scares."
Proved that there could be no such things as depressions and unemployment.
Published 1926. Check it out.

>----------------------------Original message----------------------------
>                       Subject:                               Time:16:46
>  OFFICE MEMO          ZPG=economic ruin?                     Date:28/03/1995
>I strongly disagree with Robin Leech's the contention that zero population
>growth will result in economic disaster.  Not being a  professional economist,
>I can only refer readers to Ludwig von Mises, F.A. Hayek, Milton Friedman, and
>Frederick Bastiat for rebuttals to these kinds of arguments.  Keynesians seem
>often to predict economic catastrophe when one suggests something that
>conflicts with their established economic policies or assumptions.  I
>recommend particularly von Mises's tome "Human Action" for details, or any of
>Hayek's shorter volumes.  -  Warren  Lamboy.

Roger A. McCain                         origin code: 5016
Director, Honors Program, and Professor, Economics
5016 MacAlister Hall, Drexel University
Philadelphia, PA, 19104
voice               215-895-1267
email at            mccainra at dunx1.ocs.drexel.edu
World-Wide Web at   http://www.honors.drexel.edu/HPHP.html

ÿÿ    Re: ZPG=economic ruin?                                                  SD

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