----- Original Message ----- From: "David B. Shemano" <[EMAIL PROTECTED]>
Again, to generalize, I distinguish capital investments (roads, schools, bridges, military, etc.) and other types of public goods which have cross-generational benefits. The costs of public goods that have cross-generational benefits should be shared with future generations, which would justify deficit spending. I would not put generational monetary transfers into that category. David Shemano ================= So parents should leave no bequests? Such is the insidiousness of the comparative statics of neoclassical micro............
