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42 pages • first pub 1933 (editions)
ISBN/UID: None
Format: Not specified
Language: English
Publisher: Not specified
Publication date: Not specified
Description
The credit crunch today is not destroying capital but recognising that capital was destroyed by misallocation in the years of irrational exuberance. If that is so, then we are entering a spiral of debt deflation that will play out slowly for years...
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42 pages • first pub 1933 (editions)
ISBN/UID: None
Format: Not specified
Language: English
Publisher: Not specified
Publication date: Not specified
Description
The credit crunch today is not destroying capital but recognising that capital was destroyed by misallocation in the years of irrational exuberance. If that is so, then we are entering a spiral of debt deflation that will play out slowly for years...
Community Reviews
Content Warnings