Thursday, February 05, 2009


Let’s hope policy-makers have learnt the lessons of the Great Depression
Chapter one: debt-fuelled consumer binge. Chapter two: stock market slump. Chapter three: credit crunch. Chapter four: trade war. Chapter five: well, let's not go there. History does not have to repeat itself, despite its rhymes. Extremism and war concluded the slump of 70 years ago, but they needn't this time.

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