We used to think that you could spend your way out of a recession and increase employment by cutting taxes and boosting government spending. I tell you in all candour that that option no longer exists, and in so far as it ever did exist, it only worked on each occasion since the war by injecting a bigger dose of inflation into the economy, followed by a higher level of unemployment as the next step.
James CallaghanRelated topics
boosting cutting far government increase inflation longer next occasion recession spending spend step tax tell war way higherRelated quotes
I have said this on many a previous occasion: that had the mix in Singapore been different, had it been 75% Indians, 15% Malays and the rest Chinese, it would not have worked. Because they believe in the politics of contention, of opposition. But because the culture was such that the populace sought a practical way out of their difficulties, therefore it has worked.
Lee Kuan Yew
The libertarian creed...offers the fulfillment of the best of the American past along with the promise of a far better future. Libertarians are squarely in the great classical liberal tradition that built the United States and bestowed on us the American heritage of individual liberty, a peaceful foreign policy, minimal government, and a free-market economy.
Murray Rothbard
When I say it's you I like, I'm talking about that part of you that knows that life is far more than anything you can ever see or hear or touch. That deep part of you that allows you to stand for those things without which humankind cannot survive. Love that conquers hate, peace that rises triumphant over war, and justice that proves more powerful than greed.
Fred Rogers
I claim that many patterns of Nature are so irregular and fragmented, that, compared with Euclid - a term used in this work to denote all of standard geometry - Nature exhibits not simply a higher degree but an altogether different level of complexity ... The existence of these patterns challenges us to study these forms that Euclid leaves aside as being "formless," to investigate the morphology of the "amorphous."
Benoît Mandelbrot
The fears of recession in the aftermath of Black Monday have turned to fears of the economy racing ahead too fast, with inflation edging up and a substantial current account deficit...people understandably feel more confident about their future than they've done for decades, but as a result they have been borrowing more and saving less...coming on top of a massive income investment boom, it's all been just a bit too much of a good thing.
Nigel Lawson