It's a recession when your neighbor loses his job; it's a depression when you lose yours. — Harry S. Truman
It's a recession when your neighbor loses his job; it's a depression when you lose yours. — Harry S Truman
The Great Depression, like most other periods of severe unemployment, was produced by government mismanagement rather than by any inherent instability of the private economy. — Milton Friedman
The economic crisis really affected my family - 2006 to 2011 were really bad times. Almost everybody in my family lost their jobs. — Joey Badass
Unemployment is sky-rocketing; deflation is in our future for the first time since the Great Depression. I don't care whose fault it is, it's the truth. — John Mellencamp
Alas, in 1929 came the Stock Market crash and everything changed and became worrisome. People started practicing conservatism because of financial losses, myself included. — Pola Negri
Depressions and mass unemployment are not caused by the free market but by government interference in the economy. — Ludwig von Mises
In the 1930s one was aware of two great evils - mass unemployment and the threat of war. — James Meade
Longer and deeper recessions tend to leave behind damage to people’s careers. And that weighs on the economy going forward. — Jerome Powell
It will have a negative impact on activity, employment, the number of poor and extreme poor. There will be stagflation, but that will not be very different from the last 12 years. — Javier Milei
We described the coronavirus crisis as more of a shock to the system as opposed to a full-blown recession which would spiral into a depression as the economy shut down. — Cathie Wood
The insane pursuit of the holy grail of a balanced budget in the end is going to drive the economy into a depression. — William Vickrey
Never before in modern times has so much of the world been simultaneously hit by a confluence of economic and financial turmoil such as we are now living through. — Timothy Geithner
Depression is the inability to construct a future. — Rollo May
Short Economic Depression Quotes
A recession is like a Black Friday Sale for investors. — Jaspreet Singh
Of all aspects of social misery nothing is so heartbreaking as unemployment. — Jane Addams
Depression is not sobbing and crying and giving vent, it is plain and simple reduction of feeling. — Judith Guest
The boom, not the slump, is the right time for austerity at the Treasury. — John Maynard Keynes
Every month that we do not have an economic recovery package 500 million Americans lose their jobs. — Nancy Pelosi
All these troubles in the world economy are enough to make us feel like saying: Winter is Coming. — Joko Widodo
Economic Depression Image Quotes
If you are depressed, you are living in the past. If you are anxious, you are living in the future. If you are at peace, you are living in the present.
Great Depression Quotes
Bipolar disorder can be a great teacher. It's a challenge, but it can set you up to be able to do almost anything else in your life. — Carrie Fisher
I didn't want to wake up. I was having a much better time asleep. And that's really sad. It was almost like a reverse nightmare, like when you wake up from a nightmare you're so relieved. I woke up into a nightmare. — Ned Vizzini
Life is like a movie, if you've sat through more than half of it and it’s sucked every second so far, it probably isn't going to get great right at the end and make it all worthwhile. None should blame you for walking out early. — Doug Stanhope
Stress, anxiety, and depression are caused when we are living to please others.
Arthritis, Crohn's disease, psoriasis, depression - all of those diseases are a result of our neglected biochemistry. We need to be stimulated to help fight disease. Cold is a great stimulator. — Wim Hof
Avoid the rabbit holes that can kind of lead to us not being our best selves and not feeling great… — Christina Koch
Stock prices have reached what looks like a permanently high plateau. I do not feel there will be soon if ever a 50 or 60 point break from present levels, such as (bears) have predicted. I expect to see the stock market a good deal higher within a few months. — Irving Fisher
Before you diagnose yourself with depression or low self-esteem, first make sure you are not, in fact, surrounded by assholes.
Because its hard to realize now that that was the end of the great depression, you know. All of a sudden all of this is in front of me and I'm solvent, you know. I'm making some money and I know where my next meal is coming from, and I have a new pair of shoes and that's it. — Robert McCloskey
Bernanke has cultivated this idea that he is a brilliant scholar of The Great Depression, but that’s not true at all. — David Stockman
The bank is something more than men, I tell you. It's the monster. Men made it, but they can't control it. — John Steinbeck
The remedy [for the Great Depression] is to give the workers access to the means of production, and let them produce for themselves, not for others, . . . the American way. — Upton Sinclair
Economic Recession Quotes
Small to medium sized enterprises make up over 60% of employment in the UK. It wouldn’t be crazy to imagine half shutting down as they’re bankrupted by energy costs. People need to get serious of what a true economic collapse would look like. It ain’t like a simple recession. — Philip Pilkington
The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design. — Friedrich August von Hayek
Investing, like economics, is more art than science. And that means it can get a little messy. — Howard S. Marks
If you are depressed you are living in the past. If you are anxious, you are living in the future. If you are at peace, you are living in the present.
There will always be a business cycle, and white-collar workers will get hit in the next recession like they always do in recessions. — Robert Reich
Democracy thus becomes a mass delusion of people attempting to override the rules of economics by voting themselves a free lunch and being manipulated into violent tantrums against scapegoats whenever the bill for the free lunch arrives via inflation and economic recessions. — Saifedean Ammous
Credit is like a drug. Initially, it feels great as it stimulates economic activity, but eventually, you become addicted and require more and more to achieve the same effect. — Russell Napier
The seeds of will never take root in a grateful heart!
Maintaining confidence in international trade will be critical to the broader economic recovery in the post-Covid world. — Liz Truss
Credit is the oil in the engine of economic growth, but too much oil can cause the engine to seize. — Russell Napier
Handling covid, we made a lot of big mistakes, and it led to tens of trillions of dollars of economic damage and millions of lives lost. Much of that was preventable. — Sam Bankman-Fried
I believe that the economics which deal with forecasting business trends may be considered to be about as far along as was the science of chemistry during the days of alchemy in the Middle Ages. — Philip Arthur Fisher
Economic Collapse Quotes
Cyprus was a breath away from economic collapse. It was a big battle in which we came out wounded, but upright and determined to make a fresh start. — Nicos Anastasiades
I believe the world economy will crash when Russia or China moves to a gold-backed currency. They know that when this thing blows, the old law returns: he with most gold makes the rules. — Max Keiser
The sources of deflation are not a mystery. Deflation is in almost all cases a side effect of a collapse of aggregate demand.. a drop in spending so severe that producers must cut prices on an ongoing basis in order to find buyers. — Ben Bernanke
There's no time to be bored in a world as beautiful as this.
I think there's going to be a tug of war in this country over who are the real patriots because at a time of national crisis, economic collapse and calamity, ecological peril and social dislocation, the American people deserve to be a partner to the American government. — Van Jones
At the crash of economic collapse of which the rumblings can already be heard, the sleeping soldiers of the proletariat will awake as at the fanfare of the Last Judgment and the corpses of the victims of the struggle will arise and demand an accounting from those who are loaded down with curses. — Karl Liebknecht
As a result of the World War, this old Germany collapsed. It collapsed in its constitution, in its social order, in its economic structure. Its thinking and feeling changed. — Gustav Stresemann
We're all consumers. The consumer is not a moron; she is your wife.
Why is no one talking about all the potential savings from a complete economic collapse? — Eugene Mirman
And here we encounter the seeds of government disaster and collapse - the kind that wrecked ancient Rome and every other civilization that allowed a sociopolitical monster called the welfare state to exist. — Barry Goldwater
The plague did not lead to Europe’s economic collapse. Rather, Europe’s currency-driven economic collapse led to the plague. — Douglas Rushkoff
A collapse in U.S. stock prices certainly would cause a lot of white knuckles on Wall Street. But what effect would it have on the broader U.S. economy? If Wall Street crashes, does Main Street follow? Not necessarily. — Ben Bernanke
Great Recession Quotes
The financial crisis and the Great Recession posed the most significant macroeconomic challenges for the United States in a half-century, leaving behind high unemployment and below-target inflation and calling for highly accommodative monetary policies. — Jerome Powell
The financial crisis and the Great Recession left firms with excess capacity, reducing incentives to invest. — Jerome Powell
The exposure from 'Iron Chef' has been helpful, but at the end of the day your product and your service determine whether you get customers or not. If people decide to eat out less during a recession, the first restaurants that they will cut out are the ones that don't do a great job. — Michael Symon
Price is what you pay. Value is what you get.
Many of the great financial disasters we’ve seen have been failures to foresee and manage risk. — Howard S. Marks
Up to our own day American history has been in a large degree the history of the colonization of the Great West. The existence of an area of free land, its continuous recession, and the advance of American settlement westward, explain American development. — Frederick Jackson Turner
The biggest problem in correcting errors in the market is that stocks look best when they are at the peak and not so great when they are at the bottom. — Thomas Phelps
Wealth breeds a class of people for whom human beings are disposable commodities. Once oligarchs achieve unchecked economic and political power, as they have in the United States, the citizens too become disposable.
There may be a recession in stock prices, but not anything in the nature of a crash. — Irving Fisher
While some people might find it distasteful to pay taxes, I don't. I find it patriotic. — Mark Cuban
As sure as the spring will follow the winter, prosperity and economic growth will follow recession. — Robert Foster Bennett
Once supply begins to dwindle, the years to follow will see shortages that at best will cause global recession, possibly worse than the 1930s Great Depression, ... war, famine, pestilence and death. — Kenneth S. Deffeyes
Economic Crisis Quotes
I will not let anyone tell me we must spend more money. This crisis did not come about because we issued too little money but because we created economic growth with too much money and it was not sustainable growth. — Angela Merkel
The climate crisis is being used to create totalitarian controls on society by the World Economic Forum, Bill Gates, and all of these megabillionaires. — Robert F. Kennedy, Jr.
Now our Earth is swarmed with issues such as life, death, illness, wars, economic crises and many others. It is time that we sing out loud the message, 'Love forever.' — Yayoi Kusama
There is nothing more awful, insulting, and depressing than banality
The financial crisis should not become an excuse to raise taxes, which would only undermine the economic growth required to regain our strength. — George W. Bush
If we have an economic crisis in the Western world it's because the government makes up 50 percent or more of the economy. This is a cancer that is taking away people's freedom. — Marc Faber
The exchange-rate trap, another legacy of this former president Alberto Fernández’s government, not only constitutes a social and productive nightmare, but also the surplus of money today is double what it was before the Rodrigazo economic crisis of 1975. — Javier Milei
What the people here have said is that given the enormous crises facing our country, it is just too late for the same old, same old establishment politics and establishment economics. — Bernie Sanders
Women's struggle for equality worldwide is about more than equality between men and women. Our struggle is about reversing the trends of social, economic, political, and ecological crisis - a global nervous breakdown! Our struggle is about creating sustainable lives and attainable dreams. — Bella Abzug
Marxists have more than once pointed out that the capitalist world economic system contains in itself the seeds of a general crisis and of warlike clashes. — Joseph Stalin
Ebola is not just a health crisis. Across West Africa, a generation of young people risks being lost to an economic catastrophe. — Ellen Johnson Sirleaf
Economic Downturn Quotes
High gas prices are eating away at consumers disposal income and could lead to a further economic downturn, especially for those whose livelihood depend on gasoline and diesel fuel. — Major Owens
Most analysts would agree that if all the undocumented immigrants in California were deported in one day, our state would experience a severe economic downturn. This does not even consider the many cultural and spiritual gifts these immigrants bring to our state and nation. — Roger Mahony
The economic downturn is our wake-up call to slow down, consume less, help each other, & live more! — Phil Harding
Unsolvable problems do not exist. Any crisis is a combination of specific tasks to be worked on. The government has the experience and reserves to overcome the economic downturn — Dmitry Medvedev
One thing I learned in '97, when I thought the right time to found a company was during a swing-up, is that it's much better to start during an economic downturn. Partnerships are easier; hiring is easier; and the competition starts later. — Reid Hoffman
Curiosity has ... proven to be a great ingredient in resilience, a trait particularly valuable in an extended economic downturn. Resilient people aren't made of steel; they just provide themselves with more options, and those options come from a curious mind. — Chip Conley
You know, if I listened to Michael Dukakis long enough, I would be convinced we're in an economic downturn and people are homeless and going without food and medical attention and that we've got to do something about the unemployed. — Ronald Reagan
Raising taxes in an economic downturn is not a good idea. — Martha McSally
High gas prices are eating away at consumer's disposal income and could lead to a further economic downturn, especially for those whose livelihood depend on gasoline and diesel fuel. — Major R. Owens
Deep Depression Quotes
Once a week, I like to slip into a deep existential depression where I lose all my sense of oneness and self-worth. — Bo Burnham
I'm a happy-go-lucky manic-depressive. It does get very deep and dark for me, and it gets scary at times when I feel I can't pull out of it. But I don't consider myself negative-negative. I'm positive-negative. — Tim Burton
It's only after we've lost everything that we're free to do anything. — Chuck Palahniuk
My guaranteed way of sending myself into deep depression is to read music trade papers and watch MTV. — Damon Albarn
And I always think of life like a giant wave. You know, it rises and it crests and it flies, and it's just magnificent, and then it crashes. And for a lot of people, when it crashes, that's the end, and they go down the deep, dark hole of depression. — Jane Seymour
During the next four years...unless drastic steps are taken by Congress, the U.S. will have nearly 8,000,000 unemployed and will stand on the brink of a deep depression. — Henry A. Wallace
I can do comedy, so people want me to do that, but the other side of comedy is depression. Deep, deep depression is the flip side of comedy. Casting agents don't realize it but in order to be funny you have to have that other side. — Parker Posey
I have deep feelings of depression... What can I do about this?' 'Snap out of it! Five cents, please. — Charles M. Schulz
When I need some striking inspiration about deep depression for my new painting, I just need to go to check my bank account. — Hiroko Sakai
Recession Quotes
Listen to your heart and not your ego. Your ego prompts you to boast of vain assertions to obtain the glory of this world. Turn away from vanity and seek Him in the recesses of your heart and soul — Abdul-Qadir Gilani
All men dream, but not equally. Those who dream by night in the dusty recesses of their minds, wake in the day to find that it was vanity: but the dreamers of the day are dangerous men, for they may act on their dreams with open eyes, to make them possible. — Thomas Edward Lawrence (of Arabia)
Studying the martial Way is like climbing a cliff: keep going forward without rest. Resting is not permissible because it causes recessions to old adages of achievement. Persevering day in, day out improves techniques, but resting one day causes lapses. This must be prevented. — Mas Oyama
Market crashes and recessions create more millionaires than any other time. The catch: You have to be prepared AND financially educated. — Jaspreet Singh
I basically got an education in software on DuPont's money because they were too stubborn to admit that a recession was coming. — Michael Saylor
Those traits that pass into hybrid association entirely or almost entirely unchanged, thus themselves representing the traits of the hybrid, are termed dominating and those that become latent in the association, recessive. — Gregor Mendel
Forcing humans to sit still all day is foolish. Recess is sacred—for children and adults alike! — Sahil Bloom
In business, one should never take anything for granted. Your fortune can change in five minutes. — Koos Bekker
Technology is deflationary, we are entering into an age of deflation unlike any the world has ever seen. — Jeff Booth
More money has probably been lost by investors holding a stock they really did not want until they could ‘at least come out even’ than from any other single reason. — Philip Arthur Fisher
Economic Recovery Quotes
It's a different kind of economic recovery. The kind where bankers steal trillions and you don't have a job. — Alex Jones
We simply can no longer afford to deny the full potential of one half of the population. The world needs to tap into the talent and wisdom of women. Whether the issue is food security, economic recovery, health, or peace and security, the participation of women is needed now more than ever. — Michelle Bachelet
Additional fiscal support could be costly, but worth it if it helps avoid long-term economic damage and leaves us with a stronger recovery. — Jerome Powell
This economy will recover. And that means people will go back to work. Unemployment will get back down. — Jerome Powell
We were in a good place in February of 2020, and we think we can get back there, I would say, much sooner than we had feared. — Jerome Powell
But economic recovery must be earned. And it will be earned by entrepreneurs and it will be earned by small businesses. — Jon Huntsman, Jr.
First, we need to make all-out efforts to fight COVID-19. To emerge from the shadow of the pandemic and achieve steady economic recovery at an early date is the most pressing task for us. — Xi Jinping
This economic boycott is our means of self-defense. President Roosevelt has advocated its use in the National Recovery Administration. — Samuel Untermyer
Without restoring an ethos of social responsibility, there can be no meaningful and sustained economic recovery. — Jeffrey Sachs
The road to energy independence, economic recovery, and greenhouse gas reductions runs through the building sector. — Edward Mazria
Stock Market Crash Quotes
I was lucky enough to see with my own eyes the recent stock-market crash, where they lost several million dollars, a rabble of dead money that went sliding off into the sea. — Federico Garcia Lorca
Once the smoke of the market crash clears off, you know, the Internet will pick back up and go. Take a look at what's happening to some of the big companies like eBay and Yahoo, the publicly traded stocks. You know, they're all coming back up off the mat now. — Michael Nesmith
My father was a very successful businessman, but he was ruined in the stock market crash. A big stockbroker jumped out the window and fell on his pushcart. — Jackie Mason
After 1929, so many people had been traumatized by the stock market crash that there was a lost generation. — Ron Chernow
Some calamities - the 1929 stock market crash, Pearl Harbor, 9/11 - have come like summer lightning, as bolts from the blue. The looming crisis of America's Ponzi entitlement structure is different. Driven by the demographics of an aging population, its causes, timing and scope are known. — George Will
When the stock market crashed, Franklin Roosevelt got on the television and didn't just talk about the princes of greed. He said, 'Look, here's what happened.' — Joe Biden
The only thing that looks good is the stock market, but if you raise interest rates even a little bit, that's going to come crashing down. — Donald Trump
The economic repercussions of a stock market crash depend less on the severity of the crash itself than on the response of economic policymakers, particularly central bankers. — Ben Bernanke
When my book 'Rich Dad's Prophecy' was released in 2002, most financial newspapers and magazines trashed it because I discussed a looming stock market crash. — Robert Kiyosaki
An interesting thing happened in 1989, right as I was graduating: the stock market crashed and really changed the landscape of the art world in New York. It made the kind of work I was doing interesting to galleries that wouldn't have normally been interested in it. — Matthew Barney
Economic depression cannot be cured by legislative action or executive pronouncement. Economic wounds must be healed by the action of the cells of the economic body - the producers and consumers themselves. — Herbert Hoover
There is a difference between broke and being poor. Being broke is a temporary economic condition, but being poor is a disabling frame of mind and a depressed condition of your spirit, and you must vow to never, ever be poor again. — John Hope Bryant
The end of the decline of the Stock Market will probably not be long, only a few more days at most. — Irving Fisher
The U.S. dollar is in terminal decline. America is tragically bankrupt, unable to pay its lenders without printing the dollars to do so, and enmeshed in an economic depression. The clock is ticking until the dollar faces a crisis of confidence like every other bubble before it. — Peter Schiff
A state does not simply fall apart as a result of depression... [Weimar Germany] was not destroyed by economic depression or widespread unemployment, though these naturally contributed to the atmosphere of doom, but because the Weimar Right was resolved to abolish the parliamentary state in favour of a vaguely conceived authoritarian state. — Sebastian Haffner
I see nothing in the present situation that is either menacing or warrants pessimism... I have every confidence that there will be a revival of activity in the spring, and that during this coming year the country will make steady progress. — Andrew Mellon
The social and economic impact of the earthquake is still very present and is contributing to mental health problems, the mother who lost her husband, or children who lost their parents, and who now are responsible for the whole family, taking children to school and providing food. This transition is still causing stress and depression. — Reggie Fils-Aime
No one can possibly have lived through the Great Depression without being scarred by it. No amount of experience since the depression can convince someone who has lived through it that the world is safe economically. — Isaac Asimov
For the immediate future, at least, the outlook (stocks) is bright. — Irving Fisher
Economic depression can not be cured by legislative action or executive pronouncement. — Herbert Hoover
The decline is in paper values, not in tangible goods and services...America is now in the eighth year of prosperity as commercially defined. The former great periods of prosperity in America averaged eleven years. On this basis we now have three more years to go before the tailspin. — Stuart Chase
Most politicians are ever eager to regulate industrial and commercial activity and strike at the economic elite with confiscatory taxation. Unfortunately, regulation and taxation tend to hamper economic activity, inhibit productivity, and depress levels of living. — Hans F. Sennholz
A depression is a situation of self-fulfilling pessimism. — Joan Robinson
We are really on track for a soft landing. There are no balloons popping. — David Lereah
To combat depression by a forced credit expansion is to attempt to cure the evil by the very means which brought it about; because we are suffering from a misdirection of production, we want to create further misdirection -- a procedure which can only lead to a much more severe crisis as soon as the credit expansion comes to an end. — Friedrich August von Hayek
All safe deposit boxes in banks or financial institutions have been sealed... and may only be opened in the presence of an agent of the I.R.S. — Franklin D. Roosevelt
Once upon a time my political opponents honored me as possessing the fabulous intellectual and economic power by which I created a worldwide depression all by myself. — Herbert Hoover
The idea of storage as a solution of economic problems at least has the support of common sense.It is diametrically opposed to the topsy-turvy Alice-in-Wonderland reasoning that has marked so much of our depression thinking and policy. — Benjamin Graham
The spring of 1930 marks the end of a period of grave concern...American business is steadily coming back to a normal level of prosperity. — Julian Barnes
The world has never been as divided as it is now, what with religious wars, genocides, a lack of respect for the planet, economic crisis, depression, poverty, with everyone wanting instant solutions to at least some of the world's problems or their own. And things only look bleaker as we head into future. — Paulo Coelho
I am convinced that through these measures we have reestablished confidence. — Herbert Hoover
The recurrence of periods of depression and mass unemployment has discredited capitalism in the opinion of injudicious people. Yet these events are not the outcome of the operation of the free market. They are on the contrary the result of well-intentioned but ill-advised government interference with the market. — Ludwig von Mises
It was a very economically depressed time [the 80s] and because of that, there was a lot of space. Everything was relatively dilapidated, and one could live on a pretty low income. One could live well below the poverty line and not suffer immensely. — Kiki Smith
When a country is at war or in economic depression, underdevelopment or tightened security, it sets an affective tone or mood, which seeps through into everyday life via all kinds of channels. — Kode9
My parents, products of the Great Depression, were successful people, but lived in a state of constant fear that my sister and I, and they, would sink into the kind of economic insecurity that their generation knew so well. — Ben Stein
We face a far greater risk of psychological depression than of economic recession. — Todd G. Buchholz
In his first year in office, President Obama pulled us back from the brink of the greatest economic crisis since the Great Depression and worked to lay a new foundation for economic growth. The president identified three key strategies to build that lasting prosperity: innovation, investment, and education. — Tom Vilsack
Private prison companies are now listed on the New York Stock exchange and are doing quite well in a time of economic recession (and depression in some communities). But that's just the tip of the iceberg. — Michelle Alexander
The world economy is in a nosedive, and understanding what I call "depression economics" - the weird world you get into when even a zero interest rate isn't low enough, and a messed-up financial system is dragging down the real economy - is essential if we're going to avoid the worst. — Paul Krugman
Home sales are coming down from the mountain peak, but they will level out at a high plateau - a plateau that is higher than previous peaks in the housing cycle. — David Lereah
The minimum wage was enacted in 1937 during the Great Depression and it has been increased 16 times. It's a well-established economic policy to help families. — John Freeman
The years of the economic depression have been years of political reaction, and that is why the economic crisis has generated a world peace crisis. — Arthur Henderson
Cuts in a sector are never going to be welcomed, and arts funding cut by up to 30% doesn't make nice reading. But cuts are happening across the board, in many sectors for the sake of the economy. And if you look at economically depressed post-war UK, The Beatles, The Who and The Rolling Stones came into fruition... maybe giving weight to the claim that bad economic times can actually lead to greater creativity! — Roxanne Emery
Ladies and gentlemen, the Reagan tax cuts turned the deepest recession since the Great Depression into the largest 20-year economic boom in American history. The Reagan tax cuts of 1981 and '86. And the same thing can happen here again. Democrats just cannot let it. — Rush Limbaugh
The Democrats loved Jimmy Carter, even though - and, by the way, take a look at some economic circumstances. In 1980, the economy of this country was in the tank after four years of Jimmy Carter. I mean, it was desperately bad. Unemployment was sky-high. Carter had seen us through a couple of near-depression recessions, all of this coming out of Watergate, which happened in 1972. — Rush Limbaugh
Our folks have a lot of passion. They're very concerned about the direction of the country and concerned the record debt and deficit and what it means for their kids, concerned about the economy and the fact that we're not getting back on track with the weakest economic recovery since the Great Depression. And at the end of the day, I think that's going to make the difference. — Rob Portman
When my husband was president, we went from a $300 billion deficit to a $200 billion surplus and we were actually on the path to eliminating the national debt. When President Obama came into office, he inherited the worst economic disaster since the Great Depression. He has cut the deficit by two-thirds. — Hillary Clinton
Nearly everybody nowadays accepts the 'causal completeness of physics' - every physical event (or at least its probability) has a full physical cause. This leaves no room for non-physical things to make a causal difference to physical effects. But it would be absurd to deny that thoughts and feelings (and population movements and economic depressions . . .) cause physical effects. So they must be physical things. — David Papineau
I think there is universal agreement within the economics profession that the decline - the sharp decline in the quantity of money played a very major role in producing the Great Depression. — Milton Friedman
One intriguing subplot of the economic crisis is the failure of most economists to predict it. Here we have the most spectacular economic and financial crisis in decades - possibly since the Great Depression - and the one group that spends most of its waking hours analyzing the economy basically missed it. — Robert J. Samuelson
Up until the Depression, recession had a moral character: it was supposed to purge the body economic of the greed and excess that attends a business expansion. — James Buchan
Consumerism has become a new religion, complete with its high priests at Which? and its fatwas against anyone with the temerity to try to sell anything at more than cost price ... It is a depressingly medieval outlook on economic life. — Sean O'Grady
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