Wednesday, January 7, 2009

Keynes' 1933 letter to President Roosevelt

An interesting letter that makes you wonder - Keynes' suggestions were revolutionary back then, and it took a few years (1929-1933) for them to be accepted by governments during the Great Depression. Nowadays, similar policies are enacted much faster but the point is, we haven't improved our knowledge of "what to do in an economic crisis" much in the past 75 years... I'd love to receive comments on this from knowledgeable economists. Or at least people who know what I am talking about... :-)

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