Lessons to be Learnt from the Forgotten Depression of 1920
It is not in spite of the absence of fiscal and monetary stimulus that the economy recovered from the 1920–1921 depression. It is because those things were avoided that recovery came.
It is not in spite of the absence of fiscal and monetary stimulus that the economy recovered from the 1920–1921 depression. It is because those things were avoided that recovery came.
Doug Casey’s observations, made for the United States, are perfectly applicable to India.
We are republishing the clip of the FinMin “scolding” the chairman of the SBI to ensure that it doesn’t get taken down from Youtube.
Decentralized decision-making systems always beat centralization because they process information better, and act according to local conditions.
BONUS : WILL THE REAL HAYEK PLEASE STAND UP ?
Many mainstream economists today instinctively oppose the idea of the self-regulating gold standard because they have been trained not as economists but as “social engineers”.
India will only progress if it hunkers down to take care of its own business by itself rather than trying to shoulder the problems of everyone else.