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Date: | Fri Mar 31 17:18:42 2006 |
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Dear Professor Klausinger,
In 1930, Schumpeter remarked at the end of his paper read at the AEA
meeting: "Without entering into the problems of remdeial policy it may
be stated that there is no difficulty in devising on the basis of this
diagnosis remedies both for the situation in general and for any
particular feature of it. In cases like the one before us economics is
not inferior to, say, medicine either in diagnosis or in remedial
advice. The difference and the difficulty lies in the fact that our
patients will not take what we might be able to prescribe".
Josef[sic] Schumpeter, "The Present World Depression: A Tentative
Diagnosis," American Economic Review, Vol.21, No.1, Supplement, Papers
and Proceedings of the Forth-third Annual Meeting of the American
Economic Association (March 1931), p.182
Masazumi Wakatabe
Waseda University
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