There is no such thing as a normal period of history. Normality is a fiction of economic textbooks.

A sure sign of a crisis is the prevalence of cranks. It is characteristic of a crisis in theory that cranks get a hearing from the public which orthodoxy is failing to satisfy.

It is the rate of investment which governs the rate of saving, and not vice versa.

It is the business of economists, not to tell us what to do, but show why what we are doing anyway is in accord with proper principles.

If a rise in wages does not raise prices, a fall will not reduce them.

At any moment there is certainly not balanced trade between the various areas of the habitable globe that happens to be under seperate national governments - there is an ever-changing pattern of deficits and surpluses.

There is no such thing as a normal period of history. Normality is a fiction of economic textbooks.