The Great Recession & the Great Depression
In the depths of the Great Depression, John Maynard Keynes wrote that “[p]racticalmen, who believe themselves to be quite exempt from any intellectual influence, are usually the slaves of some defunct economist.”1 This acute observation is applicable to our current Great Recession as well. In...
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| Other Authors: | |
| Format: | Article |
| Language: | en_US |
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MIT Press
2010
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| Online Access: | http://hdl.handle.net/1721.1/60250 https://orcid.org/0000-0001-8132-563X |
| _version_ | 1826207405560561664 |
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| author | Temin, Peter |
| author2 | Massachusetts Institute of Technology. Department of Economics |
| author_facet | Massachusetts Institute of Technology. Department of Economics Temin, Peter |
| author_sort | Temin, Peter |
| collection | MIT |
| description | In the depths of the Great Depression,
John Maynard Keynes wrote that “[p]racticalmen,
who believe themselves to be
quite exempt from any intellectual influence,
are usually the slaves of some defunct
economist.”1 This acute observation
is applicable to our current Great
Recession as well. In fact, the newly discredited
ideas are not all that different
from the old, suggesting that Keynes may
have overestimated people’s ability to
learn from their mistakes. |
| first_indexed | 2024-09-23T13:49:27Z |
| format | Article |
| id | mit-1721.1/60250 |
| institution | Massachusetts Institute of Technology |
| language | en_US |
| last_indexed | 2024-09-23T13:49:27Z |
| publishDate | 2010 |
| publisher | MIT Press |
| record_format | dspace |
| spelling | mit-1721.1/602502022-09-28T16:24:04Z The Great Recession & the Great Depression Temin, Peter Massachusetts Institute of Technology. Department of Economics Temin, Peter Temin, Peter In the depths of the Great Depression, John Maynard Keynes wrote that “[p]racticalmen, who believe themselves to be quite exempt from any intellectual influence, are usually the slaves of some defunct economist.”1 This acute observation is applicable to our current Great Recession as well. In fact, the newly discredited ideas are not all that different from the old, suggesting that Keynes may have overestimated people’s ability to learn from their mistakes. 2010-12-09T15:15:06Z 2010-12-09T15:15:06Z 2010-10 Article http://purl.org/eprint/type/JournalArticle 0011-5266 1548-6192 http://hdl.handle.net/1721.1/60250 Temin, Peter. “The Great Recession & the Great Depression.” Daedalus 139.4 (2010): 115-124. © 2010 by the American Academy of Arts & Sciences https://orcid.org/0000-0001-8132-563X en_US http://dx.doi.org/10.1162/DAED_a_00048 Daedalus Article is made available in accordance with the publisher's policy and may be subject to US copyright law. Please refer to the publisher's site for terms of use. application/pdf MIT Press MIT Press |
| spellingShingle | Temin, Peter The Great Recession & the Great Depression |
| title | The Great Recession & the Great Depression |
| title_full | The Great Recession & the Great Depression |
| title_fullStr | The Great Recession & the Great Depression |
| title_full_unstemmed | The Great Recession & the Great Depression |
| title_short | The Great Recession & the Great Depression |
| title_sort | great recession the great depression |
| url | http://hdl.handle.net/1721.1/60250 https://orcid.org/0000-0001-8132-563X |
| work_keys_str_mv | AT teminpeter thegreatrecessionthegreatdepression AT teminpeter greatrecessionthegreatdepression |