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The analogy between this expedient and the goldmines of the true world is full. At intervals when gold is accessible at appropriate depths expertise reveals that the real wealth of the world will increase quickly; and when however little of it is so available, our wealth suffers stagnation or decline. Thus gold-mines are of the greatest value and importance to civilisation. To say a element, the tendency in slumps for the price of gold to rise in terms of labour and supplies aids eventual recovery, because it will increase the depth at which gold-digging pays and lowers the minimum grade of ore which is payable. Drilling for oil whether it is admittedly there or not has become the replacement for digging for gold. Who knew Mitt Romney was such a Keyensian? In fact, Keynes additionally noted that constructing homes and the like (similar to new colleges and other useful infrastructure) can be more wise.
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