Time is irreversible.
The method of building up a growing industry by individuals adding spindle to spindle and mill to mill when they see profitable opportunities to do so, works perfectly well. But... this system includes no provision whatever for reversing the process, except the slow and dragging cure which time brings at last by decay and obsolescence.
- Jobs, Liberty and the Bottom Line
- Time on the Ledger: Social Accounting for the “Goo...
- Intermediate Goods and Duplication
- The Long Term Problem of Full Employment
- The Source and Remedy of the National Difficulties...
- Grundrisse: "Capital (like property) rests on prod...
- Economic and Philosophical Manuscripts of 1844: "W...
- McCulloch on Combination Laws
- Submission to the White House Task Force on Middle...
- Thinking Along the Right Lines
- The Problem with "The Problem of Social Cost"
- State and Prospects of Manufactures
Thursday, October 6, 2011
A Slow and Dragging Cure
Addendum to the Keynes and the Lancashire Cotton Industry. I need to integrate into the earlier section on Keynes the paragraph below, which so graphically illustrates why decline has to be looked at differently than development and which contains the compelling image of the "slow and dragging cure".
Posted by Sandwichman at 4:07 PM