Commentaries (some of them cheeky or provocative) on economic topics by Ralph Musgrave. This site is dedicated to Abba Lerner. I disagree with several claims made by Lerner, and made by his intellectual descendants, that is advocates of Modern Monetary Theory (MMT). But I regard MMT on balance as being a breath of fresh air for economics.
Friday, 26 August 2011
Economic fluctuations since 1870.
This chart is from a Financial Times article by Samuel Brittan. Fluctuations seem to have moderated a bit since the 1800s. The chart appeared on the hard copy version of the article but not on the internet version.