Quote:
Originally posted by wig@Jun 9 2003, 11:15 AM
You simply cannot create greater prosperity (expansion) through paper money and deficit spending without being subject to the same degree of amplitude on the contraction.
Maybe the jury is still out.
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Is that the goal?
Can't deficit spending be (and isn't it) used during slower than average economies to lessen the effect of recessions at the cost of reducing the strength of the booms?
I'd rather live in a country that always grew at 3% EVERY year rather than a range of between -7% and 13% (for example) that averaged 3%. The booms are nice but the busts are too painful for too many people. Large magnitude busts leave too many people without work.