How an Economy Can Live Beyond Its Means on Its Wits

P.J. Grigg:

I distrust utterly those economists who have with great but deplorable ingenuity taught that it is not only possible but praiseworthy for a whole country to live beyond its mens on its wits and who in Mr. Shaw's description tech that it is possible to make a community rich by calling a penny two pence, in short who have sought to make economics a vade mecum for political spivs...

Confront economists' theories of depressions and what (if anything) the government...