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Argument: Allowing recession will enable stronger economic recovery

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Revision as of 19:20, 10 February 2009; Brooks Lindsay (Talk | contribs)
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Supporting quotations

James Glassman. "Stimulus: A History of Folly". Commentary Magazine. March 2009 - left alone, what Hayek called “spontaneous order” will find its way forward. Using a different metaphor, James Grant, in his history of credit, Money of the Mind, wrote, “The cycle of decay and renewal is as much a part of capitalism as it is of the forest floor.” But, in the 1930’s, “something in the normal regenerative process was missing. There was no decisive recovery from the business-cycle bottom. People had lost their speculative courage, and the more government legislated and taxed, the more that credit sulked.”

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