The lesson would have been obvious to Keynes: with monetary policy immobilized by the currency board, and with fiscal policy immobilized by lack of financing, the economy could only go down.
Keynes by v tom viděl jasné ponaučení: ekonomika s měnovou politikou znehybněnou měnovou radou a s daňovou politikou znehybněnou nedostatkem financí nemůže než chátrat.