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The "Great" Depression

I was born while the effects of the “Great Depression” were still being felt but by that time Hitler was starting to be a real nuisance.

Bearing in mind that every day and every year we are all subject to the absolutely predictable cycles of 24 hours in each day and 365 ¼ days in each year (congratulations Pope Gregory!), it is equally predictable that futurists and economists will suggest that there are a great many cycles, especially in the fields of weather and economic activity. Some people think these are “acts of God”.

After I studied economics at University one of my lasting memories is the comment from Professor Gifford – 65 years after he told my class – “an economic depression is NOT an act of God but an act of man and therefore can be avoided as long as the men in charge know what they are doing and don’t do anything stupid”. Interesting proviso!

I trust that depressions do not go in cycles.