Monetary Policy Suffers From The Unfortunate Absence

Economic Theory Is The Most Prestigious Subject Of Instruction And Study. Agricultural Economics, Labor Economics And Marketing Are Lower Caste Fields Of Study.

The Attraction Of Power We Take For Granted In Politics.. But In Economics...the Thrust...is For Pecuniary Return, For Money. And I Have Always Felt That Denies In The Economic World A Very Large Part Of The Motivation.

Simple Minds, Presumably, Are The Easiest To Manage.

The Enemy Of The Conventional Wisdom Is Not Ideas But The March Of Events.

No Politician Can Praise Unemployment Or Inflation, And There Is No Way Of Combining High Employment With Stable Prices That Does Not Involve Some Control Of Income And Prices. Otherwise The Struggle For More Consumption And More Income To Sustain It-a Struggle That Modern Corporations, Modern Unions And Modern Democracy All Facilitate And Encourage-will Drive Up Prices. Only Heavy Unemployment Will Then Temper This Upward Thrust. Not Many Wish To Confront The Truth That The Modern Economy Gives A Choice Only Between Inflation, Unemployment, Or Controls.