A Quote by Milton Friedman
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.
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I know of no severe depression, in any country or any time, that was not accompanied by a sharp decline in the stock of money, and equally of no sharp decline in the stock of money that was not accompanied by a severe depression.
The Fed was largely responsible for converting what might have been a garden-variety recession, although perhaps a fairly severe one, into a major catastrophe. Instead of using its powers to offset the depression, it presided over a decline in the quantity of money by one-third from 1929 to 1933 ... Far from the depression being a failure of the free-enterprise system, it was a tragic failure of government.
Labor force participation peaked in early 2000, so its decline began well before the Great Recession. A portion of that decline clearly relates to the aging of the baby boom generation. But the pace of decline accelerated with the recession.
No central banker would disagree with the proposition that inflation is primarily a monetary phenomenon. Not one of them will disagree that every inflation has been accompanied by a rapid increase in the quantity of money and every deflation by a decline in the quantity of money.
My theories explain, but cannot slow the decline of a great civilization. I set out to be a reformer, but only became the historian of decline.
There can be no doubt that the young of today have to be protected against certain poisonous effects inherent in present-day civilization. Five social diseases surround them, even in early childhood. There is the decline in fitness due to modern methods of locomotion; the decline in initiative due to the widespread disease of spectatoritis; the decline in care and skill due to the weakened tradition of craftsmanship; the decline in self-discipline due to the ever-present availability of tranquilizers and stimulants, and the decline in compassion, which William Temple called "spiritual death.
In any profession, whether it's teachers or doctors or lawyers, the more we say we're not going to evaluate those people on the merits, I think that's when the profession goes into decline.
A stock market decline is as routine as a January blizzard in Colorado. If you're prepared, it can't hurt you. A decline is a great opportunity to pick up the bargains left behind by investors who are fleeing the storm in panic.
I think that - apart from the fields of science and medicine - we live in an age of decline. Look at the world. There is decline in morals, ideals, manners, respect, truthfulness: just about everything, in fact.
What happened was that for every $100 of money, by which I mean the cash that people keep in their pockets, and the deposits they have in the bank, for every $100 of money that there was in 1929, by 1933 there was only $67. The Federal Reserve allowed the quantity of money to decline by a third. While, at all times, it had the possibilities and the power of preventing that from happening.
I've never gotten up in front of a Muslim congregation and played the role of a religious leader, and I decline those invitations because that's not what I am.
Rapid increases in the quantity of money produce inflation. Sharp decreases produce depression.
The decline in literature indicates a decline in the nation. The two keep pace in their downward tendency.
If inflation-adjusted interest rates decline in a given country, its currency is likely to decline.
What can oppose the decline of the west is not a resurrected culture but the utopia that is silently contained in the image of its decline.
When I closed in "King Lear" I went into a period of depression for about three weeks, and every actor I've talked to who's ever played a major, major Shakespeare role has done this.
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