If unemployment could be brought down to say 2 percent at the cost of an assured steady rate of inflation of 10 percent per year, or even 20 percent, this would be a good bargain.

Increasingly prices are set by sellers to raise their prices without a loss of sales sufficient to wipe out the gain.

The insane pursuit of the holy grail of a balanced budget in the end is going to drive the economy into a depression.

... often analysis seems to be based on the assumption that future economic output is almost entirely determined by inexorable economic forces independently of government policy so that devoting more resources to one use inevitably detracts from availability for another.

Nearly all educational expenditure should be considered a capital outlay. Education provides a future return in the form of enhanced taxable income and an enhanced quality of life.

Deficits do not in themselves produce inflation, nor does a balanced budget assure a stable price level.

The nominal budget is a poor indicator of the impact of government outlays and revenues.