All Quotes

The great increase in longevity has produced a surge in the desire to accumulate assets for retirement. It has outpaced the ability of the private sector to produce assets, so we need a larger government debt. ”

Nearly all educational expenditure should be considered a capital outlay, whether it provides a future return in the form of enhanced taxable income or in terms of an enhanced quality of life. ”

Larger deficits are necessary and proper means to mitigate unemployment as the far greater evil in terms of human welfare. ”

It's insane to try to balance the budget. ”

Balancing a nominal budget will solve nothing, and attempting to achieve such a spurious balance will produce much mischief. ”

The insane pursuit of the holy grail of a balanced budget in the end is going to drive the economy into a depression. ”

I define genuine full employment as a situation where there are at least as many job openings as there are persons seeking employment, probably calling for a rate of unemployment, as currently measured, of between 1 and 2 percent. ”

Practically, the desirable situation ought to be one in which any reasonably responsible person willing to accept available employment can find a job paying a living wage within 48 hours. ”

There is no reason inherent in the real resources available to us why we cannot move rapidly within the next two or three years to a state of genuine full employment. ”

If unemployment could be brought down to say 2 percent at the cost of an assured steady rate of inflation of 10 percent per year, or even 20 percent, this would be a good bargain. ”