Re: Location of Keynes' quote

[Mason Clark <masonc@xxxxxxxxxxxxx>]

At 2/10/03, you wrote:

>Does anyone know the location of this quote? I had thought it was in the
>last chapter of the GT, but I cannot seem to find it anywhere in the GT?
>
>"It (the economy) seems capable of remaining in a chronic condition of
>sub-normal activity for a considerable period, without any marked tendency
>either towards recovery or towards complete collapse..." ??
>
>Many thanks
>
>Basil Moore

Chapter 18, Section III  (p. 249 in my edition)

The above is a summary of the General Theory. But the actual
phenomena of the economic system are also coloured by certain
special characteristics of the propensity to consume, the
schedule of the marginal efficiency of capital and the rate of
interest, about which we can safely generalise from experience,
but which are not logically necessary.

In particular, it is an outstanding characteristic of the
economic system in which we live that, whilst it is subject to
severe fluctuations in respect of output and employment, it is
not violently unstable. Indeed it seems capable of remaining in a
chronic condition of subnormal activity for a considerable period
without any marked tendency either towards recovery or towards
complete collapse. Moreover, the evidence indicates

       Mason C