On Sun, 23 Jul 1995, Rod wrote: 
 
"Surely the question is quite simple, despite the length of the posts  
on this topic. Can the banks (or governments) motivate people to use  
resources productively, that would not otherwise be used? If so then  
further productivity and growth rates will be higher. If not then there  
may be some misallocation of resources, causing lower future growth  
rates. The rest of the twaddle is irrelevant." 
 
My response: 
 
It is this kind of quick dismissal that keeps the mythology of banks  
creating credit from thin air alive.  
 
James Ahiakpor