Month: May 2014

Henry Simons and a Debt-Free World

Henry Calvert Simons, a University of Chicago economist who wrote extensively during the 1930s and 1940s, placed significant blame on banks for the Great Depression. In particular, he despised the short-term debt contracts used in the banking industry. As he put it, ” … the economy becomes exposed to catastrophic disturbances as soon as short-term …

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