Under the gold standard America had no major financial panics other than in 1873, 1884, 1890, 1893, 1907, 1930, 1931, 1932, and 1933.

Debt is one person's liability, but another person's asset.

Every once in a while I feel despair over the fate of the planet. If you’ve been following climate science, you know what I mean: the sense that we’re hurtling toward catastrophe but nobody wants to hear about it or do anything to avert it.

There's one thing that the Fed has been really good at cracking down on, and that's inflation.

Middle-class societies don't emerge automatically as an economy matures, they have to be CREATED through political action.

Outrageous fiscal mendacity is neither historically normal nor bipartisan. It’s a modern Republican thing.

Raising the minimum wage and lowering the barriers to union organization would carry a trade-off - higher unemployment. A better idea is to have the government subsidize low-wage employment. The earned-income tax credit for low-income workers - which has been the object of proposed cuts by both President Clinton and congressional Republicans - has been a positive step in this direction.