But now that foreign steel, and foreign cars, are moving into the United States in increased quantities at relatively low prices, the United States can no longer keep its business system fluid by inflation.
John ChamberlainTwo hundred years ago the first liberal economist, Adam Smith, warned businessmen that they could absorb only a certain amount of rigidity. In the easy days after World War II... wage rises could be financed out of inflationary price increases.
John ChamberlainI think of my art materials not as junk but as garbage. Manure, actually: it goes from being the waste material of one being to the life-source of another.
John Chamberlain