<<Vitamin B>> (June 6, 1996) Reality Check

[Robert Hettinga]

Speak of the devil...


Cheers,
Bob Hettinga

--- begin forwarded text


To: DAILY DOSE <DAILY_DOSE at notes.worldcom.com>
From: VitaminB <VitaminB at bionomics.org>
Date:  6 Jun 96 20:31:04
Subject: <<Vitamin B>> (June 6, 1996) Reality Check
Mime-Version: 1.0

Vitamin B:
                   Your Daily Dose of Bionomics

                                           June 6, 1996



Reality Check

Everyone knows that you can't predict the future.
The question is: Can traditional economics understand
the present?

Not too many years ago, on the eve of the collapse
of the Soviet Union, the leading economics textbook
had this to say:

"The Soviet economy is proof that, contrary to what
many skeptics had earlier believed, a
socialist command economy can function and
even thrive."

                      -- Paul A. Samuelson, Professor emeritus, MIT
                       (in Samuelson & Nordhaus, Economics, 1989)

We wonder what "conventional wisdom" of 1996
will prove to be as, ummm, quotable in the not too
distant future.

--- end forwarded text



-----------------
Robert Hettinga (rah at shipwright.com)
e$, 44 Farquhar Street, Boston, MA 02131 USA
"If they could 'just pass a few more laws',
  we would all be criminals."    --Vinnie Moscaritolo
The e$ Home Page: http://www.vmeng.com/rah/