Re: poly: On Simple Models (Was: Why interest rates may stay low)

Robin Hanson writes:
> >The cost of a radio station depends on how much money it makes, just
> >like almost any other investment.
>
> What does that have to do with the change in rate of return if investment
> were delayed?

Perhaps we've gone too many turns down the mountain to see where we
began. Why don't you clearly state your point about the distinction
between investment that confers a property right and that which does
not and I'll see whether we disagree in any substantive way. It
appeared that you were making a distinction, but perhaps you aren't.

.pm
Received on Tue Mar 3 23:12:19 1998