Moreover, growth that is too fast can create economic dislocations and the misallocation of resources.
That is, the friction, misallocation of resources, fixed costs, old people and parasites increased.
Kyoto is a huge misallocation of resources that must be opposed for everyone's benefit.
Low rates are the root cause of the misallocation of resources that define the modern American economy.
But inflation also throws sand into the economic gears by distorting price signals and causing a misallocation of resources.
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First, consider the main reason why general price inflation retards economic growth: it can lead to a misallocation of resources.
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That it is signals the real possibility that state influence will foster the misallocation of resources between different parts of the economy.
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Even without an actual conflict, this is one more tragic misallocation of resources that could be going toward economic and social development.
The discrepancy does not necessarily indicate irrationality or massive misallocation of resources.
They will require a continual misallocation of resources in order to survive.
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This includes the five-year plans, misallocation of resources, loss-making state enterprises, subsidized consumption, corruption and oil export dependence that doomed the Soviet experiment.
If anything about American transport policy deserves bashing it is the socialised infrastructure with all the misallocation of resources associated with government intervention.
That 80 cents consists of the real resources people use to evade and avoid the tax plus the misallocation of resources that is cause by taxation.
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Markets in both shares and currencies tend to overshoot at times, leading to the formation of bubbles that can have similar consequences, such as a misallocation of resources.
NPLs represent a misallocation of resources on a giant scale.
The Economist (December 6th) has decided that a good solution to the problem of road congestion (ie, a possible misallocation of resources) is for people to give more money to government.
But sometimes politics, and even more so the financial restaints of marketplace, can curb the massive misallocation of resources that is a hallmark of top-down systems such as in Communist China.
One last thought: Although the Roach-Frankel duo went on to address currencies and exchange rates, the two never got to a basic risk factor in the current fragile period: What if the U.S. dollar, under the weight of private and public misallocation of resources, were to collapse?
This forces market participants to take risk more seriously, pushing up interest rates for other reckless borrowers, driving painful fiscal adjustments that will eventually correct the misallocation of resources caused by the bubble, returning them to the private sector and, eventually, permitting a renewal of sustainable growth.
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And if I'm not mistaken, and, Gene, you may have the figures on the tip of your fingers here -- but less than 1 percent of the overall funding indicated that there were any problems in terms of fraud or misallocation of resources, et cetera -- I mean, an extraordinarily low number.
WHITEHOUSE: Meeting of the President's Council on Jobs and Competitiveness | The White House
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