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There comes crash of illusions the similar overestimated accounts are replaced
Opposite "a pessimism error", leading to that investments,
Which in the conditions of a full employment could bring 2 % actually,
Are considered as unprofitable. And sharp reduction of the new following from here
Investments conducts to unemployment, and then the investments, capable to bring at
Full employment of 2 %, really yield only the loss. We appear in
Such position when it is available defect of dwellings and when nevertheless nobody
Presumes to live in available houses. Thus, in the conditions of boom
Lower norm of percent (133) is necessary no more high, and. Last gives
Possibility to support a condition of so-called boom. Effective
It is necessary to search for means of struggle against business cycles not in removal of boom
And an establishment of chronic semidepression, and in eliminating crises and
Constantly to support a quasiboom condition.
The boom to which can end with crisis, is generated, thus,
Norm of percent which at correct accounts on the future would be too
It is high for a full employment, and at wrong assumptions (until then
While to them adhere) would prevent to show to this norm of percent the
Constraining influence. The boom is a condition, at which overwork optimism
Gets the best of the norm of percent too overestimated at more sober estimation.
If to exclude the war period * hardly probable we had lately
Any boom, so strong that it has led to a full employment. In
The United States employment in 1928-1929 was rather satisfactory
From the point of view of usual standards. But I do not find that there at this time
Defect of a labour, behind an exception, maybe, workers would be felt
Few specialised trades. In some branches were formed
"Bottlenecks", but as a whole volume of output still could extend. Not
There was also redundant investments in the sense that, for example, a condition and
The equipment of dwellings was such, when each under condition of a full employment
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