Chris Hayes Writes a Very Nice Piece on the Pain Caucus

Chris Hayes:

Are Depressions Necessary?: [T:]he current crisis has also reawakened a long-obscured, but far more profound debate about the very nature of cyclical capitalism. That is: Are economic contractions, like the one we're currently experiencing, a good thing?... [S:]cratch the surface a bit and you'll find a surprisingly vibrant school of thought, one that reaches back all the way back to the Great Depression, that holds precisely this view.

Famed economist Joseph...