In numerous years following the war, the Federal Government ran a heavy surplus. It could not (however) pay off its debt, retire its securities, because to do so meant there would be no bonds to back the national bank notes. To pay off the debt was to destroy the money supply.

Agriculture is one economic activity that does not obey the laws of demand and supply.

Some things were never meant to be recycled.

All crises have involved debt that, in one fashion or another, has become dangerously out of scale in relation to the underlying means of payment.

Economists, on the whole, think well of what they do themselves and much less well of what their professional colleagues do.

We're all subject to the daily pressures of consumer persuasion.

Humor is richly rewarding to the person who employs it. It has some value in gaining and holding attention, but it has no persuasive value at all.