If you put a ten dollar bill under the rug instead of spending it, that is capital formation. It represents ten dollars' worth of something that might have been immediately consumed, but wasn't.
Garet GarrettThere was endless controversy as to whether the acts of the New Deal did actually move recovery or retard it, and nothing final could ever come of that bitter debate because it is forever impossible to prove what might have happened in place of what did.
Garet GarrettLenin, the greatest theorist of them all, did not know what he was going to do after he had got the power.
Garet Garrett