Recessions Quotes
Many companies appear to be doing much better than they really are. Often they employ PR professionals to create that impression. Some companies are not even solvent, but the only way we can all tell is to have a recession generally or in that particular sector—the equivalent of the tide going out.
Statement made in response to Jimmy Carter's technical arguments about the economy at a Teamsters convention in Ohio.
It is this principle that makes any kind of economic reform so difficult to implement. People do not want to lose what they have obtained and do not want to risk any change.
Uchitelle in writing about one of the nation’s economic recessions thought that it should be an interesting slant to do an article about Harvard alumni who had been laid off to show that education and training were not sufficient to have job security. Lelyveld, one of the greatest newspaper editors in the history of American journalism had also been a Harvard graduate.
All the objections that Coolidge had in his veto message, were not convincing to modern Presidents and members of Congress as well as well the American people. Our Agricultural policy has had all these elements for years now.
This was an honest theoretical belief of Mises. However, most of the criticism of capitalism in the industrial democracies is precisely the lack of unemployment and sustenance for all. When it does, even complaints about inequality tend to be minimal. But some capitalist societies never provided these, and by the 21st century, no capitalist nation was able to do so permanently without recessions and depressions.
Actually during this period, automation and other forms of technological unemployment have been far more responsible for the loss of good jobs in America than offshoring which has been far more responsible than competition from immigrants.
He was explaining the thinking of several of the economic protesting movements of the time.
In this case the tariffs were imposed not to protect national industries but to simply raise revenue. In the early years of the United States, almost all of the Federal Revenue was raised this way.
The Grammar Curmudgeon
His reference was to economic crises where governments try to restrict outflow of capital, decrease inflationary behavior, invest more money, stop investing money, revaluing the currency, and others—are all hard to do politically and technically as well. Worse, they don’t often work very well.
Later in the Great Recession of 2008, almost everyone realized what the queen had observed years earlier.
