<font face="Verdana, Arial, Helvetica, sans-serif" size="2">Originally posted by gleff:
Would love a link?
Thanks!
Gary</font>
I remember this article. The author was anticipating a massive devaluation. I looked online and found it in the 4 May 2002 issue. Unfortunately, it is "premium content" at Economist.com, so you have to pay to read.
You can search on "frequent flyer" on economist.com;
this link was given for the monetarist argument. It appears that there was another article on the subject in that same issue, although I don't remember having read it.
From the
economist.com search page:
<font face="Verdana, Arial, Helvetica, sans-serif" size="2">Frequent-flyer economics
May 2nd 2002 From The Economist print edition
One of the world's main currencies is heading for a fall
</font>
and
<font face="Verdana, Arial, Helvetica, sans-serif" size="2">Fly me to the moon
May 2nd 2002 From The Economist print edition
The earning and spending of frequent-flyer miles has become a big business—perhaps too big </font>
I was impressed with the argument in the former; as I recall, it was pretty much the same as gleff's.
fiat_owner
[edited for a better search URL]
[This message has been edited by fiat_owner (edited 10-12-2003).]