Devalued exchange rates, moderate government budget deficits, and the passage of time all appeared to be equally ineffective remedies. Highly centralized and unionized labor markets, like Australia’s, did as poorly as decentralized and laissez-faire labor markets, like that of the United States, in dealing with long-term unemployment.
贬值的汇率、温和的政府预算赤字以及时间看起来都无法成为良药。高度集中的工会化劳动力市场（比如澳大利亚）与分散的自由放任劳动力市场（如美国）一样在长期失业面前束手无策。法西斯主义（如意大利）同样解决不了问题，除非伴随迅速的军力扩张（如德国）。