James Ahiakpor asks "With what do investors invest, if not the savings of households?" Well, Schumpeter and lots of other economists have said that banks provide the finance. The answer still seems to me to be a pretty good one. Anne Mayhew 1101 McClung Tower University of Tennessee Knoxville, TN 37996-0411 PH: 615-974-1689; FAX: 615-974-3915; E-MAIL: [log in to unmask]