Mr. David Stockman has said that supply-side economics was merely a cover for the trickle-down approach to economic policy — what an older and less elegant generation called the horse-and-sparrow theory: If you feed the horse enough oats, some will pass through to the road for the sparrows.

From the fact of general well-being came the new position of the poor. They were now in most communities a minority. The voice of the people was now the voice of relative affluence. Politicians in pursuit of votes could be expected to have a diminishing concern for the very poor. Compassion would have to serve instead - an uncertain substitute.

Some things were never meant to be recycled.

One of my greatest pleasures in my writing has come from the thought that perhaps my work might annoy someone of comfortably pretentious position. Then comes the realization that such people rarely read.

Perhaps never before or since have so many people taken the measure of economic prospects and found them so favorable as in the two days following the Thursday [24th October 1929] disaster.

The ideas by which people . . . interpret their existence and in measure guide their behavior, were not forged in a world of wealth.

Pundits forecast not because they know, but because they are asked.