This thread is beginning to degenerate. A few important points have been
made.
Lou correctly maintains that it is important to understand how complex
specific economic formations are. Even so, understanding is very difficult.
People outside of California might have problems in understanding the
specificity of the Californian economy. Even in Butte county, where I live,
there are enormous differences between Chico and the outlying areas. Tim, who
studies Chico full-time, has an imperfect analysis of the this small corner of
the world.
Given this complexity, it is dangerous to pretend that one can command
adequate information about formations that are distant and time and space.
Jim suggests that analogies can be a useful way of bootstrapping partial
information. Lou says that doing so can be misleading. Both are correct.
The main problem seems to be that people on the list insist on the
complicating discussions by mixing in personal, emotional, and egotistical
forces into what could otherwise be a fruitful dialogue.
--
Michael Perelman
Economics Department
California State University
[EMAIL PROTECTED]
Chico, CA 95929
530-898-5321
fax 530-898-5901
