>PK's the man with the plan >----- Original Message ----- >From: Devine, James >[Pen-l alumnus Brad deLong used to deny the possibility of over-investment, >even though it's the subject of my Ph.D. dissertation! (UC-Berkeley Econ., >1981.) does he still do so?]
>================ >I don't think so; he made some comments regarding the issue on his blog a >week or two ago...... >Ian I believe that the politically correct point of view on this topic among the relevant crowd is that the economy as a whole cannot have over-investment, but that individual industries can. Quite how this squares with an aggregative view of capital I cannot say, but then I am not a theologian ... dd ___________________________________________________ Email Disclaimer This communication may contain confidential or privileged information and is for the attention of the named recipient only. It should not be passed on to any other person. Information relating to any company or security, is for information purposes only and should not be interpreted as a solicitation or offer to buy or sell any security. The information on which this communication is based has been obtained from sources we believe to be reliable, but we do not guarantee its accuracy or completeness. All expressions of opinion are subject to change without notice. All e-mail messages, and associated attachments, are subject to interception and monitoring for lawful business purposes. (c) 2002 Cazenove Service Company or affiliates. Cazenove & Co. Ltd and Cazenove Fund Management Limited provide independent advice and are regulated by the Financial Services Authority and members of the London Stock Exchange. Cazenove Fund Management Jersey is a branch of Cazenove Fund Management Limited and is regulated by the Jersey Financial Services Commission. Cazenove Investment Fund Management Limited, regulated by the Financial Services Authority and a member of IMA, promotes only its own products and services. ___________________________________________________
