Re: poly: Re: Why interest rates may stay low

Robin Hanson writes:
> You and I agree that investors are less attracted to longer term projects.
> We seem to disagree about direct vs. indirect causes of this.
>
> My claim is that the main direct cause is that all else equal there is more
> uncertainty about long-term assets.

I can't say that I disagree with that simple (and in my opinion,
obvious) claim. Most of what I've said, in fact, simply an elaboration
of the impacts of that increased uncertainty.

Perry
Received on Fri Mar 27 00:37:43 1998