This pattern would not have surprised nineteenth-century economists like Mill or Walter Bagehot, who understood the financial-sector origins of industrial depression. But it does seem to surprise not only a great many observers today, but also a large number of policymakers.
估计穆勒和沃尔特·白芝浩（Walter Bagehot）这些十九世纪的经济学家也不会对这一规律感到惊讶，因为他们深知衰退的根源就是在财政部门。但令人震惊的是，当今许多观察家和政策制定者却对此一无所知。