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German American economist N.Johannsen and impair savings:important clue to current slow recovery

The German American amateur economist Nicholas Johannsen (1844-1928) published a work in 1908 entitled A Neglected Point in Connection with Crises in which he developed the notion of ”impair savings” He used this notion to point out that crises originated … Continue reading

Posted in business cycles, classical economics, fiscal policy, full employment, J.M.Keynes, monetary policy, Uncategorized, unemployment | Tagged , , | 1 Comment