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.
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