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In a way I have to admit that the "Paradox of Thrift" is a "just so story," because much of Keynes work is a set of stories, rather than a full model.

However, I like the Paradox of Thrift because it appears to match the reality of what happened in the Great Depression and indeed in previous episodes of deflation...

by Metatone (metatone [a|t] gmail (dot) com) on Wed Jun 9th, 2010 at 05:39:39 AM EST
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