Cause of Recessions

Recessions don’t require an objective cause. They happen without a war, natural disaster, crop failure, or shortage of crucial materials. This suggests they are a primarily psychological problem and the remedy will be found in the psychology of large groups. I suspect the only way to tame them will be to give up the legal freedom to behave irrationally with money.

~ Roedy (1948-02-04 age:69)