>> Second, this ratio should be compared to
>> debt relief given to Germany after World War II. ...
>> The wisdom of massive debt relief is clear - it formed one
>> basis of the German economic miracle.
thanks. this is just the kind of thing i was looking for.
another kindergarten question:
i was just last nite reading through my Baumol and Blinder (B&B) -- now getting hauled over the coals on PEN-L -- that the idea for the IMF was established during the Bretton Woods talks to smooth out the problems of int'l currency exchange after WWII. my question is: was the initial concept of an IMF a good idea gone bad (imperial, hegemonic, whatever) or was it the wrong solution from the start? what is a marxist perspective on foreign exchange rate issues and the idea that ""the IMF was empowered to make loans to countries that were running low on reserves""? <this quote is from B&B>
i guess these questions in a sense repeat what was asked of doug h. a while ago: is there a decent econ 101 book for left-leaning folks to learn their ABC's. i am hoping my (new) subscription to LBO teaches me a few things as well (whenever it finally arrives :-) ).
and now i return to listening mode....
-- ____ Les Schaffer godzilla at netmeg.net ___| ------->> Engineering R&D <<-------- Theoretical & Applied Mechanics | Designspring, Inc. Westport, CT USA Center for Radiophysics & Space Research | http://www.designspring.com Cornell Univ. schaffer at tam.cornell.edu | les at designspring.com