Innovations Are Changes Which Cannot Be Decomposed

All We Can Thus Far Say About The Duration Of The Units Of [the Business Cycle] And Each Of [its] Two Phases Is That It Will Depend On The Nature Of The Particular Innovations That Carry A Cycle,... And The Financial Conditions And Habits Prevailing In The Business Community In Each Case.

The Ballot Is Stronger Than Bullets.

Access To The National Dividend Is Usually To Be Had Only On Condition Of Some Productive Service Previously Rendered Or Of Some Product Previously Sold. This Condition Is, In This Case, Not Yet Fulfilled. It Will Be Fulfilled Only After The Successful Completion Of The New Combinations. Hence This Credit Will In The Meantime Affect The Price Level.

Those Revolutions Are Not Strictly Incessant; They Occur In Discrete Rushes Which Are Separated From Each Other By Spans Of Comparative Quiet. The Process As A Whole Works Incessantly However, In The Sense That There Always Is Either Revolution Or Absorption Of The Results Of Revolution, Both Together Forming What Are Known As Business Cycles.

Our Poverty Will Be Brought Home To Us To Its Full Extent Only After The War.