The Economics of Recovery

The Economics of Recovery

The Economics of Recovery

The Economics of Recovery

Excerpt

This book is an attempt to make a depression diagnosis. Its objectives are strictly limited. It reviews the origins and the progress of the depression in this country, and considers the nature of its most characteristic symptoms. It undertakes to make an analysis of the more important measures of new legislation that have been enacted to meet the emergency, and to consider their economic implications and the probable degree of effective aid that may be expected from them. Finally it attempts to identify the fundamental requisites for recovery.

A sustained effort has been made to discuss these matters in simple terms. Probably all will be in agreement that there has never been a time in our history when it was so important as it is now to clarify economic discussion so as to bring into effective reconciliation the teachings that are based on theory and the judgments which are derived from observation and experience. Clearly our ability, as individuals and as members of larger groups, to deal effectively with the problems of the depression will be increased if we can so formulate some of the elements of sound economic doctrine as to make them appealing and acceptable to common sense.

Such a consideration of the economics of recovery as is here undertaken will fail of securing the approba-

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