Yet fears of another terrible collapse persist, even among the experts. Chandler of Atlanta University has called “the determinants that influence the behavior of employment, output, and prices.” We have learned what we should do to manipulate what Lester V.
As dozens of economists and historians have shown, we now know, in theory, how to deal with violent cyclical downturns. Since then there have been more recessions, some quite severe, but nothing like what happened in the thirties. Back in 1955 John Kenneth Galbraith called the Great Depression of the 1930s “the most momentous economic occurrence in the history of the United States,” and thirty-odd years later that judgment, recorded in Galbraith’s best seller, The Great Crash, still holds.
0 kommentar(er)
