Any comments?

[Michael Perelman]

Brad, isn't it true that the policies of the IMF promote situations in
which countries can be devastated by the panics, against which the fund
is supposed to offer some sort of defense.

Brad De Long wrote:


> The Fund...
>
> Countries get into the clutches of the Fund when they have no other
> options: either New York has panicked (or their own nationals have
> panicked) and they are confronted with bad choices between high
> interest rates and large-scale devaluation, or something else happens
> and they are confronted with bad choices between high interest rates
> and large-scale devaluation.
>

--
Michael Perelman
Economics Department
California State University
Chico, CA 95929

Tel. 530-898-5321
E-Mail michael at ecst.csuchico.edu