Andrew Lambdin-Abraham (kd5mdk) wrote,
Andrew Lambdin-Abraham
kd5mdk

  • Music:

Economics, it's a noble thing

An excerpt from J. K. Galbraith's "Money" p108 :

Eighteen years later, after the panic of 1837, the New York Herald concluded that "The United States were never in such a perilous condition as they are at this moment."

In a burst of chivalrous compassion it said that that especially "We weep and mourn for the poor, blushing, weeping, defenseless, innocent, beauteous females who are involved in the general crash."

Every later panic brought similar expressions of despair and and almost equally alarming prose.

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