[OPE-L:5319] Re: use-value of money

Gerald Levy (glevy@pratt.edu)
Thu, 3 Jul 1997 19:11:47 -0700 (PDT)

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Hans wrote in [OPE-L:5317]:

> In other words,
> monetary policy is an important factor in keeping the "exoteric"
> sphere in line with the "esoteric". This seems so simple to me,
> that I am probably overlooking something. I am eager to discuss this
> further.

I'm eager as well, Hans.

In what sense are you using the terms "exoteric" and "esoteric" above?

What do you think of Alain Lipietz's discussion of this subject in _The
Enchanted World: Inflation, Credit and the World Crisis_ (London, Verso,

[Perhaps unrelatedly, the above reminds me of a cartoon I saw printed this
Monday in _The New London Day_, which was a re-print from _The Buffalo
News_. The title of the cartoon was:

"Warning Sign"

The cartoon shows 11 economists sitting around a meeting table. They are
all raising their hands in support of a motion. The Chair says:

"It is now unanimous. All economists agree there is no economic
downturn in sight".

In small print in the right-hand corner is the notation:

"Whose High-Tech Instrumentation Consists of a Rear-View Mirror"

Well ... it made me laugh!

More seriously, would you (and others on the list) vote for the motion?
If so, why? If not, why not?].

In solidarity, Jerry