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Herbert Fisher

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All political decisions are taken under great pressure, and if a treaty serves its turn for ten or twenty years, the wisdom of its framers is sufficiently confirmed.
--
Political Prophecies (1918)

 
Herbert Fisher

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Economists can take a good deal of credit for the stabilization policies which have been followed in most Western countries since 1945 with considerable success. It is easy to generate a euphoric and self-congratulatory mood when one compares the twenty years after the first World War, 1919-39, with the twenty years after the second, 1945-65. The first twenty years were a total failure; the second twenty years, at least as far as economic policy is concerned, have been a modest success. We have not had any great depression; we have not had any serious financial collapse; and on the whole we have had much higher rates of development in most parts of the world than we had in the 1920’s and 1930’s, even though there are some conspicuous failures. Whether the unprecedented rates of economic growth of the last twenty years, for instance in Japan and Western Europe, can be attributed to economics, or whether they represent a combination of good luck in political decision making with the expanding impact of the natural and biological sciences on the economy, is something we might argue. I am inclined to attribute a good deal to good luck and non-economic forces, but not all of it, and even if economics only contributed 10 percent, this would amount to a very handsome rate of return indeed, considering the very small amount of resources we have really put into economics.

 
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I am against this Treaty not because I am a man of war but because I am a man of peace. I am against this Treaty because it will not end the centuries of conflict between the two nations of Great Britain and Ireland.

 
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I am half-surprised to find that as I go on I get more and more confirmed in the old advanced Liberal principles, economic, social, & political, with which I entered Parliament 30 years ago.

 
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