----------------- HES POSTING ----------------- Thank you Bradley Bateman for your references and for stressing Milton Friedman's basis for them. I was aware of the latter. In the light of his well-known position I found it quite interesting that recently he gave an interview in which he paid respect to Alan Greenspan for his "unconventional" policy of strong monetary expansion in the USA over the last years, admitting that thereby Milton Friedman was in conflict with his own basic position. The over-riding aspect which Milton Friedman advocated in spite of his basic beliefs was the idea of avoiding a repetition of the Great Depression now that the New Economy is faltering. (DIE ZEIT, June 21, 2001, p.19, published in German) Best regards Michael Ambrosi ------------ FOOTER TO HES POSTING ------------ For information, send the message "info HES" to [log in to unmask]