I Know Of No Severe Depression, In

You Cannot Be Sure That You Are Right Unless You Understand The Arguments Against Your Views Better Than Your Opponents Do.

The Power To Determine The Quantity Of Money... Is Too Important, Too Pervasive, To Be Exercised By A Few People, However Public-spirited, If There Is Any Feasible Alternative. There Is No Need For Such Arbitrary Power.

. . . It Is Worth Discussing Radical Changes, Not In The Expectation That They Will Be Adopted Promptly But For Two Other Reasons. One Is To Construct An Ideal Goal, So That Incremental Changes Can Be Judged By Whether They Move The Institutional Structure Toward Or Away From That Ideal. The Other Reason Is Very Different. It Is So That If A Crisis Requiring Or Facilitating Radical Change Does Arise, Alternatives Will Be Available That Have Been Carefully Developed And Fully Explored.

Congress Can Raise Taxes Because It Can Persuade A Sizable Fraction Of The Populace That Somebody Else Will Pay

They Think That The Cure To Big Government Is To Have Bigger Government... The Only Effective Cure Is To Reduce The Scope Of Government - Get Government Out Of The Business.