HT to Vox, this is a timely quote from my June 18th post about Obama's new financial plan seeking to abolish booms and busts...
"The remedy for the boom is not a higher rate of interest but a lower rate of interest! For that may enable the so-called boom to last. The right remedy for the trade cycle is not to be found in abolishing booms and thus keeping us permanently in a semi-slump; but in abolishing slumps and keeping us permanently in a quasi-boom.”- John Maynard Keynes
No comments:
Post a Comment