In Economics, Hope And Faith Coexist With

The Overall Effect Of The Rise Of The Industrial System Is Greatly To Reduce The Union As A Social Force. But It Will Not Disappear Or Become Entirely Unimportant.

It Is The Good Fortune Of The Affluent Country That The Opportunity Cost Of Economic Discussion Is Low And Hence It Can Afford All Kinds.

World War Ii Revealed Two Of The Enduring Features Of The Keynesian Revolution. One Was The Moral Difference Between Spending For Welfare And Spending For War. During The Depression Very Modest Outlays For The Unemployed Seemed Socially Debilitating, Economically Unsound. Now Expenditures Many Times Greater For Weapons And Soldiers Were Perfectly Safe. It's A Difference That Still Persists.

The Individual Serves The Planning System Not By Supplying It With Savings And The Resulting Capital; He Serves It Far More By Consuming Its Products.

Nostalgia Combines Regularly With Manifest Respectability To Give Credence To Old Error As Opposed To New Truth.