Naw

"STANFORD UNIVERSITY SCHOOL OF MEDICINE

STANFORD MEDICAL CENTER
300 PASTEUR DRIVE, PALO ALTO, CALIFORNIA 94304

DEPARTMENT OF GENETICS
Professor Joshua Lederberg

ITEM 3. Purchasing-Power Bond

I hear that the White House is toying with
some encouragement of variable-interest mortgages.
That reminded me of some ancient discussions about
purchasing-power bonds, but my assistant was unable
to uncover anything better than the attached.

Can you point me to any critical analyses of
the idea? Experiments where it has been tried
(other than in the guise of the gold-bond?)

I could also see a version that applied a dis-
count for augmented services furnished by the govt.
I would also see it as applying mainly to a non-
transferable annuity investment.

Lr. Josepn P, Kennepy, Jr. Laporarorres FoR MoLecuLar MEDICINE
dedicated to the study of mental retardation

Molecular Biology Heredity Neurobiology Developmental Medicine

MEMO FROM
J. LEDERBERG
GENETICS DEPARTMENT

STANFORD UNIVERSITY _
STANFORD, CALIFORNIA

 

1) Slip of the pen -- or a partial solution
to the world population excess (wipe out the
unfree world?)

2) I don't understand the purpose of quoting
unreliable figures that you don't trust,
except to document and rebut them. Someone
has surely estimated that we're consuming

110% of the World's resources. You won't en-
hance your credibility by wild attributions.
3) Do you happen to know what fraction of

the total consumption is 4) fuels; 8) of
domestic origin.

4) Have you consideredi what y¥would happen
to the ecenomy of the LUC's if we did not
purchase their raw materials? My own stress
would be to seek out the ways in which we

- exploit the LDC's through direct and indirect,

manipulations of commodity prices. We have
a dilemma-- how to reestablish fair prices ™®

without an éncredible enrichment of the
"mining interests" in the US.

 

“be more profitably. left in the mine.

_ expense,
impaired

« De “Spent etl
wagyetad radeentires ;

(A. ‘free market would allow a balance of interests.
so that a resource awk about-to-be- depleted would
With large
fixed overhead in other levels of the indussry
there is likely to be a misallocation of costs to
optimize tataixpesfitx instant profit at posterity
| But: present efficiemcy might indeed be.
by suak a separation of interests in ex-
versus exploitation of a mineral.)

traction

0,(- de eWay FS EE ie cg aah Yat pevsevioky.