A Second Reason Why Science Cannot Replace

Unless The Trade Deficit Shrinks, The Combination Of The Trade Deficit And The Interest And Dividend Payments To Foreigners Will Grow Ever More Rapidly.

And Finally, No Matter How Good The Science Gets, There Are Problems That Inevitably Depend On Judgment, On Art, On A Feel For Financial Markets.

An Increase In The Relative Price Of Products From The Low Wage Manufacturers In Asia And Latin America Will Also Make Those Products Less Attractive To American Consumers.

Homeowners Who Refinanced Their Mortgages Took Out Cash And Reduced Their Monthly Payments At The Same Time. Much Of The Cash Obtained By Refinancing Was Spent On Consumer Durables, Home Improvements And The Like.

In Short, Both Experience And Economic Theory Imply That The Us Could Now T To A More Competitive Dollar Without Experiencing Either Increased Inflation Or Decreased Economic Growth.