Yes, but it the central tradition pretends that this cost only imposes itself during the recession itself, and has no influence on, say, GDP ten years from now (assuming the depression does not last ten years, which theoclassicals are swift to assure us that it will not, based on historical data from back when we were actually doing something about industrial depressions).

Yes, they really do believe this. I'd quote you chapter and verse, but I don't have my textbooks at hand.

- Jake

Friends come and go. Enemies accumulate.