Sep 25, 2009
The Keynesian connection between unemployment and bubbles“Keep interest rates low so that people spend
rather than hoarding—but only so long as there is involuntary unemployment.
When an economy no longer has involuntary unemployment, further efforts to
stimulate demand will merely cause inflation and asset bubbles.”
—Richard
Posner paraphrasing John Maynard Keynesi.
See also Aaron Swartz.
* *