This site has been active for one month, and there has been strong interest from Chinese-speaking visitors. To facilitate this, the homepage will be in English, but viewers now have the option to localize the website into Chinese characters. In the near future we will work to translate all the charts and graphs into Chinese, but the actual content of the articles will not be translated until some time after May, 2011.
Archive for the ‘Commentary’ Category
“If the [tsunami] were to fill [the tide] with [boats, cars, houses, etc.], [sink] them at suitable depths in [the sea] which [is] then filled up to the surface with town rubbish, and leave it to private enterprise on well-tried principles of laissez-faire to [rebuild the damaged areas] up again (the right to do so being obtained, of course, by tendering for leases of the note-bearing territory), there need be no more unemployment and, with the help of the repercussions, the real income of the community, and its capital wealth also, would probably become a good deal greater than it actually is. It would, indeed, be more sensible to build houses and the like; but if there are political and practical difficulties in the way of this, the above would be better than nothing.” —John Maynard Kaynes in The General Theory of Employment, Interest, and Money. 1936. Page 129.