Should a purchase order be considered M1?

On the drive in from Southlake my daughter and I discussed how obtuse taking Macro-Economics in school is. The lines of unimportant data that must be memorized in order to make an acceptable grade can be mind-numbing. Instead of memorizing the definition and exact amount of M-1, one should ponder the uses and ramifications of currency, the multiplier effect etc. We discussed the question of a p.o. from a fortune 500 company. Would a rational businessman buy equipment and hire personnel based on a purchase order from IBM? If the answer is yes, what does this say about the relative importance of M1?

Bono solving poverty.

Did anyone see Bono last night? He was preaching to an appreciative audience about the end of extreme poverty. He obviously has read Jeffrey Sachs books, in fact he and Sachs are close friends. I have not seen the incentives that the Sachs-Bono plan promotes. If economics is about "people respond to incentives, the rest is commentary", as most economists agree with the quote by Steven Landsburg; where is the Bono incentive? The truth is the Sachs-Bono plan is about shifting wealth transfers. No incentive. No real result.

Tom