>
> >Brad, please let me know what you think about the US default in the 19th
> >C. as a model.
> >--
> >Michael Perelman
>
>
> We tried that in the 1980s with Latin America. It didn't work so
> well. Economic development essentially froze for five years as
> everyone waited to see what the resolution would be.
>
> Much better to clean up government and private enterprise balance
> sheets quickly...
>
>
> Brad DeLong
>
-- Michael Perelman Economics Department California State University Chico, CA 95929
Tel. 530-898-5321 E-Mail michael at ecst.csuchico.edu