The speculative episode always ends not with a whimper but with a bang.
Under capitalism, man exploits man; while under socialism just the reverse is true.
The world of finance hails the invention of the wheel over and over again, often in a slightly more unstable version. All financial innovation involves in one form or another, the creation of debt sec...
The process by which money is created is so simply that the mind is repelled. Where something so important is involved, a deeper mystery seems only decent.
The process by which money is created is so simple that the mind is repelled.
The income men derive from producing things of slight consequence is of great consequence to them.
Speculation, it has been noted, comes when popular imagination settles on something seemingly new in the field of commerce or finance.
All crisis have involved debt that, in one fashion or another, has become dangerously out of scale in relation to the underlying means of payment.
A bad book is the worse that it cannot repent. It has not been the devil's policy to keep the masses of mankind in ignorance but finding that they will read, he is doing all in his power to poison the...
Prime threat hovering over a society of general well-being.
The threat to men of great dignity, privilege and pretense is not from the radicals they revile; it is from accepting their own myth.
In economics, it is often professionally better to be associated with highly respectable error than uncertainly established truth.
The worst continued to worsen. What looked one day like the end proved on the next day to have been only the beginning. Nothing could have been more ingeniously designed to maximize the suffering, and...
I would now, however, more strongly emphasize, and especially as to the United States, the inequality in income and that it is getting worse—that the poor remain poor and the command of income by thos...
Speculation buys up, in a very practical way, the intelligence of those involved.
Those involved in mental as opposed to physical effort or who carry the responsibilities of management are presumed to require a higher payment for their submission to the purposes of organization tha...
That economics has a considerable conceptual apparatus with an appropriate terminology can not be a serious ground for complaint. Economic phenomena, ideas, instruments of analysis exist. They require...
I have sufficiently urged that all suggestions as to financial innovation be regarded with extreme skepticism. Such seeming innovation is merely some variant on an old design, new only in the brief an...
The sense of responsibility in the financial community for the community as a whole is not small. It is nearly nil.