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From: nrh@inmet.UUCP
Newsgroups: net.politics.theory
Subject: Re: Re: Strange Bedfellows [Shoe Drain]
Message-ID: <28200376@inmet.UUCP>
Date: Sun, 8-Dec-85 02:55:00 EST
Article-I.D.: inmet.28200376
Posted: Sun Dec  8 02:55:00 1985
Date-Received: Fri, 13-Dec-85 06:29:26 EST
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Nf-From: inmet!nrh    Dec  8 02:55:00 1985


Gabor,

I'll certainly steer clear of the what-about-the-currency-exchange rate
question.  I'm in no position to speak on it -- my article was to 
bring out a couple of points that seemed to me important, in particular,
the part you objected to, 3c, I think, was an "all-other-things-equal"
construction, as I'd hoped to avoid such questions.

I am most intrigued by the idea of the currency market having the 
qualities you suggest.  Can you suggest a reference?

By the way, Libertarians that I know don't suggest that free markets
are necessarily stable (the futures markets are good evidence of this, 
as well as a good example of how to deal with it).  We do often argue
that government is a source of instability, though, and if the market
on currency (heavily influenced by governmental policies) is unstable,
I'm not a *bit* surprised.