Quotation of the Day…
Posted By Don Boudreaux On November 18, 2012 @ 7:44 am In Great Depression,Politics,Stimulus | Comments Disabled
… 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 [1]:
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.
Comments
Article printed from Cafe Hayek: http://cafehayek.com
URL to article: http://cafehayek.com/2012/11/quotation-of-the-day-464.html
URLs in this post:
[1] Second Thoughts: http://www.amazon.com/Second-Thoughts-Morals-Economic-History/dp/0195101189/ref=sr_1_1?ie=UTF8&qid=1318944149&sr=8-1
[2]
[3]
[4]
[5]
[6] Image: http://www.blinklist.com/index.php?Action=Blink/addblink.php&Url=http%3A%2F%2Fcafehayek.com%2F2012%2F11%2Fquotation-of-the-day-464.html&Title=Quotation%20of%20the%20Day...
[7]
[8]
[9]
[10]
[11] Tweet: https://twitter.com/share
Click here to print.