Monetary contractions are attractive as the key shocks in the 1929-1933 years, and in other severe depressions, because there do not seem to be any other candidates.

The observation that money changes induce output changes in the same direction receives confirmation in some data sets but is hard to see in others. Large-scale reductions in money growth can be associated with large-scale depressions or, if carried out in the form of a credible reform, with no depression at all.

My parents were admirers of President Roosevelt and the New Deal. Their parents and most of our relatives and neighbors were Republicans, so they were self-conscious in their liberalism and took it as emblematic of their ability to think for themselves.

I was born in 1937, in Yakima, Washington, the oldest child of Robert Emerson Lucas and Jane Templeton Lucas. My sister Jenepher was born in 1939 and my brother Peter in 1940. My parents had moved to Yakima from Seattle to open a small restaurant, The Lucas Ice Creamery.

When I was 16, the first book I ever actually purchased with my own money, in fact, and had read on my own time was 'Hunt for Red October' by Tom Clancy.

To give real service you must add something which cannot be bought or measured with money, and that is sincerity and integrity.

We have no companies now, not in the sense that I know, that nurture actors. It's very depressing that, given the money they get, the companies today don't number up in my estimation. They should be bringing on young talent, and they don't.

I don't have to be making a lot of money or living in a fancy house.