Pre-WWI Panics. Slowly, dawning recognition of relationship between falling prices and amount of currency in circulation
The increasing of tariffs and austerity programs made the Great Depression worse.
An emergent quality is seen when the fallacy of composition is examined.
There are two ways that the fallacy of composition comes into play:
Every proposal on deficit reduction is at odds with the last greatest proposal. In project development, when every approach is 90 or 180 degrees away from the previous one, that project will fail – and usually be replaced by a band-aid project that has negative, unanticipated consequences.
The US needs to better balance its budget and stem the national debt which depend of an economic recovery with job growth and the end of the housing disaster. What might happen if we don’t make more noticeable progress? The US dollar exchange rate could fall dramatically. The cost of imports from China will rise…