Mikko Ikola

49%
Flag icon
Recessions, for Keynes, are caused by abrupt reductions in the aggregate level of spending. Keynes was not very good with grasping the concept of causality and logical explanations, so he never quite bothered to explain why it is that spending levels might suddenly drop, instead just coining another of his famous clumsy and utterly meaningless figures of speech to save him the hassle of an explanation.
The Bitcoin Standard: The Decentralized Alternative to Central Banking
Rate this book
Clear rating
Open Preview