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This is where I will
make announcements about the class. If you've visited before and want to
know what's changed, take a look here first. N.B. Please use my Shaw email account
:
h-chartrand@shaw.ca
HHC
For your information about the
Crash & Great Recession I recommend
the following (non-testable) :
1. The Crash - What went Wrong? - 3
part 'personalized' series in the Washington Post
Part I - The Beautiful Machine
Part II - A Crack in the System
Part III - Downgrades & Downfalls
2.
Fear & Greed - February, revised October 2008
My take.
3. Keynes, J.M.,
The General Theory of Employment, Interest and Money,
Macmillan, London, 1967, ©
1936:
Chapter 12 The State of Long-Term Expectations, 147-164.
History does repeat itself with
respect to Cause if not Effect. Consider:
We should not conclude from this that everything depends on waves of
irrational psychology. On the contrary, the state of long-term expectation
is often steady, and, even when it is not, the other factors exert their
compensating effects. We are merely reminding ourselves that human
decisions affecting the future, whether personal or political or economic,
cannot
162
depend on strict mathematical expectation, since the basis for making such
calculations does not exist; and that it is our innate urge to activity
which makes the wheels go round, our rational selves choosing between the
alternatives as best we are able, calculating where we can, but often
falling back for our motive on whim or sentiment or chance.
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