Decline in GDP could create a Roosevelt-era recession

5688next new deal logo Decline in GDP could create a Roosevelt era recession

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The only real capital of a nation is its natural resources and its human beings. So long as we take care of and make the most of both of them, we shall survive as a strong nation, a successful nation and a progressive nation — whether or not the bookkeepers say other kinds of budgets are from time to time out of balance.

This capital structure — natural resources and human beings — has to be maintained at all times. The plant has to be kept up and new capital put in year by year to meet increasing needs. If we skimp on that capital, if we exhaust our natural resources and weaken the capacity of our human beings, then we shall go the way of all weak nations. — Franklin D. Roosevelt, 1938

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Decline in GDP could create a Roosevelt-era recession


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