Quotation of the Day…

by Don Boudreaux on November 18, 2012

in Great Depression, Politics, Stimulus

… is from page 103 of John Wallis’s 1993 essay “The Great Depression: Can It Happen Again?” – which is chapter 12 of the knowledge-packed, Deirdre N. McCloskey-edited volume Second Thoughts:

The most important lesson to be learned from the 1930s is that in a crisis it is politics, not economics, that determines what the goals of government policy will be.  Politically expedient policy can yield disastrous economic results.

Be Sociable, Share!

Comments

comments

Add a Comment    Share Share    Print    Email

Previous post:

Next post: