Jul 30, 2019

Irving Fisher on the liquidation cure for busts

40. [I]t would be as silly and immoral to "let nature take her course" as for a physician to neglect a case of pneumonia. It would also be a libel on economic science, which has its therapeutics as truly as medical science.

~ Irving Fisher, "The Debt-Deflation Theory of Great Depressions," September 1933


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