Daily Clips: April 20, 2017
Happy 4/20. Here’s a quote from Carl Sagan:
The illegality of cannabis is outrageous, an impediment to full utilization of a drug which helps produce the serenity and insight, sensitivity and fellowship so desperately needed in this increasingly mad and dangerous world.
Why has growth been so slow? This too is a topic in itself but there are several reasons.
One, popular among mainstream economists, is that very deep recessions, like the 2008–9 affair, have historically left deep scars that make recovery slow and difficult. Another, less orthodox, way of interpreting those “scars” is that a very deep recession is itself a sign of serious structural problems beyond the normal ups and downs of capitalist economies.