Cafe Hayek » Quotation of the Day…

Quotation of the Day…

Posted By Don Boudreaux On September 17, 2012 @ 7:25 am In Monetary Policy,Scientism,Seen and Unseen,State of Macro | Comments Disabled

… is from page 43 of Lionel Robbins ^[1]‘s 1934 volume, The Great Depression ^[2]:

[W]hen the boom has collapsed, there exist dislocations and disproportionalities in the world of industry, the wreckage of false expectations, which monetary manipulation is not likely to remove.

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[1] Lionel Robbins: http://www.econlib.org/library/Enc/bios/Robbins.html

[2] The Great Depression: http://www.amazon.com/Great-Depression-Lionel-Robbins/dp/1412810086/ref=sr_1_2?s=books&ie=UTF8&qid=1347880893&sr=1-2

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