"The silliest thing about all these reality deniers is that a recession -- a normal, cyclical event -- is actually healthy for the economy over the long run.
Consider how many of our current problems are due to ill-considered poorly thought attempts to avoid a cyclical recession. Not only is our mess man-made, but it was totally unnecessary."
Economics, as a branch of the more general theory of human action, deals with all human action, i.e., with mans purposive aiming at the attainment of ends chosen, whatever these ends may be.--Ludwig von Mises
Tuesday, February 5, 2008
Cartoon: Recession is Likely
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