Nor should the argument seem strange that taxation may be so high as to defeat its object, and that, given sufficient time to gather the fruits, a reduction of taxation will run a better chance than an increase of balancing the budget.

I see, therefore, the rentier aspect of capitalism as a transitional phase which will disappear when it has done its work. And with the disappearance of its rentier aspect much else in it besides will suffer a sea-change. It will be, moreover, a great advantage of the order of events which I am advocating, that the euthanasia of the rentier, of the functionless investor, will be nothing sudden, merely a gradual but prolonged continuance of what we have seen recently in Great Britain, and will need no revolution.

There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency.

Once we allow ourselves to be disobedient to the test of an accountant's profit, we have begun to change our civilization.

The old saying holds. Owe your banker �1000 and you are at his mercy; owe him �1 million and the position is reversed.

Worldly wisdom teaches that it is better for reputation to fail conventionally than to succeed unconventionally.

One blames politicians, not for inconsistency but for obstinacy. They are the interpreters, not the masters, of our fate. It is their job, in fact, to register the fact accompli.