(Waldman 2012) Depression is a choice

Waldman, Steve Randy. Depression is a choice. Interfluidity. 2012 Apr 17. Available from: http://www.interfluidity.com/v2/3212.html. Accessed 2012 Apr 22. Archived by WebCite at http://www.webcitation.org/676p0tvIc.

Waldman traces the cause of present-day economic depressions to an overriding preference on the part of governments to protect the purchasing power of creditors against losses. This preference is asymmetric: opportunities for gain are sacrificed to maximize safety against loss, so that policymakers sabotage every form of economic stimulus at the first sign of any risk of inflation.



Shortlink to this page: http://is.gd/TwWVB3
Last revision: April 10, 2013