Epstein Secrets

ning need for fixed-value default-free assets. Three trillion dollars of interest-paying reserves can easily be $6 trillion of reserves. We can live Milton Friedman's (1969) optimal quantity of money, in which the economy is awash in liquidity. This optimal quantity will have financial stability benefit far beyon

t Journal, June 24. 47 EFTA00611700 Diamond, Douglas W., and Phillip H. Dybvig. 1983. "Bank Runs, Depo

a form of income redistribution, Friedman's ideas suffer from needing continuous flows. I believe my own proposals achieve the same aims of those of Milton Friedman, at much less cost. I would ask that readers consider these proposals to be more neo—Friedmanite than neo- Marxian. If, however, my ideas are incor

ors (including GM Hughes, Grumman, and McDonnell Douglas) have divested unprofitable non core businesses w

hat this debt can be expanded indefinitely is to undermine the most important value this debt has; that of security. In similar vein I find much of Milton Friedman's monetary theory terrifyingly naive. However I have found the blogging of 'kitchen-sink' monetarists such as Simon Ward [Ward] and John Hussman [Hus

y ratio as the finding of a theory that not only produces the Cobb-Douglas production function, but also gives certain fixed exponents for the Cobb- Douglas function). 122 EFTA00625250 There are however very major problems with this approach. Firstly, real analysis of companies suggests that any mean