What really struck me in Skidelsky's account, however, was the extent to which conventional opinion in the 1920s viewed high unemployment as a good thing, a sign that excesses were being corrected and discipline restored--so that even a successful attempt to reflate the economy would be a mistake.
But, what really struck me in Skidelsky's account, was the extent to which typical opinion in the 1920s viewed high uneployment as a good thing.