Abstract
The Triple Overview. Basic to the Phoenix point of view is the tenet that what the world is suffering from is not so much a depression as something much more serious and fundamental. A depression implies a cyclic series of events which returns to some previous state, in this case, a previous state of prosperity and full employment. There is also inherent in this viewpoint the idea that the restoration of prosperity is automatic and calls for no special effort. It leads to the comforting fairy‐story that it will all come right in the end and that there is no need for radical change.
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