Out of the crash John Maynard Keynes provides a new theory of the Business Cycle. What was his revolutionary idea . Boom and bust who can explain the Business Cycle . With the help of richard gill, well explore that question on this edition of economics usa. Im david schoumacher. Boom or bust . Why is the economy so unstable . Factories sit idle or stagger along because nobody has any money to spend. Workers sit home without any money to spend hoping the economy gets better so they can work again. Its a pattern that repeats itself over and over again. Few people worried about trying to explain economic fluctuations during the 19th century. Americans were too busy building railroads expanding commerce overseas, or creating new industry. The years after the civil war saw a continuing expansion of the American Economy. Although this prosperity was interrupted by periodic slumps few people seemed to worry. Didnt the economy always bounce back . On the eve of world war i, economists had no
Undermines to some extent our credibility when we seek to advance human rights. They feel like there has been too much in the way of like it surveillance, that perhaps shouldve been more targeted or more carefully focus on people who are actually suspects . Well, first of all youre making some assumptions that are not fully qualified anymore to comment on. I guess i probably wouldnt any weight even if i knew what the Current Situation was. But i think you should assume, i think its fair to assume that we have collection priorities. We know what we want to collect against. These are targets where we think some threat may emanate. You will quickly say, what about Angela Merkel . My answer to you on that would be it seems to me that anytime somebody in the Intelligence Community is thinking about collecting against a friendly foreign leader, that kind of activity or proposed activity needs to be reviewed by people at a high political level and its not clear to me that that was done in the
Wait and see how that plays out. I take some comfort that the senate has established a role for itself that whatever agreement is reached will have to be submitted to the congress for approval as a result of the chairman of the Senate Foreign Relations Committee committee, bob corker. So there is a huge amount of effort that has gone into this. But i think i reserve judgment right now if this is a good deal or not. After the cold war we have seen crimea day think those are necessary or what framework is necessary . With the border changes and the framework. I think that is a key and of forms. That it would be very risky. With the invasion of crimea so with the possibility of quarter changes there or elsewhere. So it was drawn with days certain degree of colonialism. But once youre on the uh of path youre on the slippery slope. It is that only the political dangers but a threat to the whole concept. This the best system and to come up with yet. As long as we dont have an adequate substi
Besides, they do have substantially different responsibilities. We need a small numbers with highly trained and experienced people. When you think about the heroes of our profession, Charles Bolin were people from that era after world war ii georgia, these were individuals whose careers were assiduously cultivated and studied russian and get critical assignments and were advisers to roosevelt and atkinson and george washington. We we didnt create these people by the hundreds. They were created by the dozens. I think that is still true. I i mean, i could name for you even now i had a i had a pretty good idea of who the best psychologists were in a state department and you the best russian experts were in the best latin america experts. You get to know who they are in the intelligence community, who the best analysts are because there analysis bubbles up to the pres. And the pres. s daily brief brief and they get to sometimes come in brief the president themselves. There is somewhat of a
Countries and democratic. Very often we came to the relationship with those countries for security reasons. Like germany, germany, like south korea, but we saw the wisdom of helping them develop democratic countries that respect human rights. I think where things get a little bit complicated, its in the tactics the daytoday tactics of our Foreign Policy where you we will sometimes find some pretty serious disagreements that only the state department but around this town and maybe our country which is for example what you do about Human Rights Violations you have extremely significant interests purchase, the largest oilproducing country in the world for the country of china which is about to become possibly the largest economy in the world. You have to find a balance as to how you make clear that you support human rights in those countries but at the same time we are sometimes limited by the real possibilities as defined by two things that doesnt necessarily mean that a democratic a dem