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Entry: Public Works--A New Era of State-Sponsored Depression Link: http://www.takimag.com/site/article/public_works_a_new_era_of_state_sponsored_depression#23355 Post contents: From 1930 to 1933, the money supply contracted by a third.This had to cause severe retrenchment of surviving lending institutions, and a loss of confidence by the common citizenry. Previously, I have posted the following: "Consider the following trade/tax matrix: Regime #1 - 0% impediment to trade, 100% tax on income. Regime #2 - 100% impediment to trade, 0% tax on income. Which regime would have the more efficient economy? This simple trade/tax matrix tells us that trade is at best marginal to economic growth, but that individual spirit expressed as volitional drive is dominant. Sent at: 2008 10 12