Thanks for your remarks. I still feel that politically such a proposal as say a guaranteed national income is probably irrationally opposed given the validity of your argument. However, I think the considerations I raised are the underlying reasons these policies are not supported universally. If the basic analysis is correct the simply European unemployment insurance would go long way toward solving the Asian crisis because agregate demand would not fall through floor.
Russia on the other hand is another story.
--mike
-- Michael Cohen mike at cns.bu.edu Associate Professor, Center for Adaptive Systems Work: 677 Beacon, Street, Rm313 Boston, Mass 02115 Home: 25 Stearns Rd, #3 Brookline, Mass 02146 Tel-Work: 617-353-9484 Tel-Home:617-734-8828 Tel-FAX:617-353-7755