Feb
08
2010
Searching for a Better Understanding of Depressions
Posted by: realclearmarkets in RealClearMarkets“But is it not conceivable that wants may some day be so completely satisfied as to become frozen forever after? Some implications of this case will presently be developed, but so long as we deal with what may happen during the next forty years we evidently need not trouble ourselves about this possibility.”~ Joseph A. Schumpeter, Capitalism, Socialism and Democracy, p. 113.
Last year’s stock-market plunge unsurprisingly generated a great deal of commentary about the possibility of an economic depression that would rival that experienced in the 1930s. And with…
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