The economic history of the last half century offers two cases of serious international depressions in countries with an essential orientation towards a market economy: In the first half of the 1930ies and in the middle of the 1970ies. With some simplification one can say that in the former case recovery started after a few years without the aid of much conscious expansionist policy.
Bertil OhlinRelated topics
case century few half history international last market middle orientation recovery simplification years expansionistRelated quotes
When one read's Kierkegaard's profound analyses of anxiety and despair or Nietzsche's amazingly acute insights into the dynamics of resentment and the guilt and hostility which accompany repressed emotional powers, one might pinch oneself to realize that one is reading works written in the last century and not some new contemporary psychological analysis.
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But the three siblings were not born yesterday. Violet was born more than fifteen years before this particular Wednesday, and Klaus was born approximately two years after that, and even Sunny, who had just passed out of babyhood, was not born yesterday. Neither were you, unless of course I am wrong, in which case welcome to the world, little baby, and congratulations on learning to read so early in life.
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