O Intermitente
(So long, farewell, auf weidersehen, good-bye)

quarta-feira, novembro 05, 2003

A Cura Que Mata o Paciente

Áqueles que prescrevem o aumento dos gastos do Estado como forma de combater a recessão aconselho a leitura do artigo "Reflation in American History".

Since the early seventeenth century, American governments (colonial, state, and federal) have tried and failed to restart business expansions by reflation. That is, they have tried to revive an inflation-driven economic boom that has stalled or collapsed by pumping new money into the system. In other words, they have tried reflating as the cure for the evils introduced by inflating. They have not yet succeeded in skipping over the inevitable contraction of the business cycle, but they have succeeded in worsening its severity and length and delaying sound recovery.

posted by Miguel Noronha 12:00 da tarde