Sunday, January 30, 2022

In a nutshell

"I fully agree with the important point he [Mr. Robertson] makes (pp. 180-183) that the increased demand for money resulting from an increase in activity has a backwash which tends to raise the rate of interest; and this is, indeed, a significant element in my theory of why booms carry within them the seeds of their own destruction."
- J.M. Keynes in The Quarterly Journal of Economics, February 1937

Yeah.

Um, yeah.

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