----------------- HES POSTING ----------------- Regarding the first statement, the following information may be useful: On December 31, 1965, Time magazine put John Maynard Keynes on the cover and quoted Friedman as saying, "We are all Keynesians now." Later, Friedman said he was quoted out of context. "In one sense, we are all Keynesians now; in another, no one is a Keynesian any longer. We all use the Keynesian language and apparatus, none of us any longer accepts the initial Keynesian conclusions." I copied this from "Milton Friedman, Ex-Keynesian" by Mark Skousen, July 1998, which contains full references. http://www.mskousen.com/Books/Articles/exkeynes.html Larry Willmore ------------ FOOTER TO HES POSTING ------------ For information, send the message "info HES" to [log in to unmask]