I Am Trying To Re-shape And Improve

I Was Suffering From My Chronic Delusion That One Good Share Is Safer Than Ten Bad Ones, And I Am Always Forgetting That Hardly Anyone Else Shares This Particular Delusion.

By A Continuing Process Of Inflation, Government Can Confiscate, Secretly And Unobserved, An Important Part Of The Wealth Of Their Citizens.

If You Owe Your Bank Manager A Thousand Pounds, You Are At His Mercy. If You Owe Him A Million Pounds, He Is At Your Mercy.

If Human Nature Felt No Temptation To Take A Chance There Might Not Be Much Investment Merely As A Result Of Cold Calculation.

Nevertheless, If We Contemplate A Society With A Somewhat Stable Wage-unit, With National Characteristics Which Determine The Propensity To Consume And The Preference For Liquidity, And With A Monetary System Which Rigidly Links The Quantity Of Money To The Stock Of The Precious Metals, It Will Be Essential For The Maintenance Of Prosperity That The Authorities Should Pay Close Attention To The State Of The Balance Of Trade. For A Favourable Balance, Provided It Is Not Too Large, Will Prove Extremely Stimulating; Whilst An Unfavourable Balance May Soon Produce A State Of Persistent Depression.