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

Firms would be given initial entitlements to gross markup on the basis of past performance. These entitlements would be transferable and a market in them would be developed.

Don't you think you're just rearranging deck chairs on the Titanic?

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.

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.

This paper was one of my digressions into abstract economics.

Deficits do not in themselves produce inflation, nor does a balanced budget assure a stable price level.

It's insane to try to balance the budget.

There is no real justification for a requirement that a budget of any sort should be balanced, except as a rallying point for those who seek to hamstring government.

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

Increasingly prices are set by sellers to raise their prices without a loss of sales sufficient to wipe out the gain.

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.

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.

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.

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

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

The nominal budget is a poor indicator of the impact of government outlays and revenues.

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.

Currently a level of unemployment of 7 percent or more seems to be required to keep inflation from accelerating, a level quite unacceptable as a permanent situation.

The supply-side effect of a restrictive monetary policy is likely to be perverse, in that high interest rates enter into costs and thus exert inflationary pressure.

Examples one finds in the philosophical literature are somebody who's seen the trial of a child of theirs, where they're being proved guilty of some crime that would drive the parent into a depression, maybe a suicidal depression.

Although I was not aware of it at the time, the experience of growing up during the Great Depression was to have a profound impact on my intellectual and professional career.

We had a booming stock market in 1929 and then went into the world's greatest depression. We have a booming stock market in 1999. Will the bubble somehow burst, and then we enter depression? Well, some things are not different.

In a strange way, I had fallen in love with my depression.

When I was in Philadelphia during the Depression in 1930 or '31, I got a very sad job as a night watchman in a garage. The cars in the garage had been abandoned by their owners, since they had lost their jobs and couldn't keep up the payments.

It is so often true that whether a person carries with him an atmosphere of gloom and depression or one of confidence and courage depends on his individual outlook.

This is what I am. I have periods of enormous self-destructive depression, where I go completely off my trolley and lose all sight of reality and reason.

Coming down off crack is like the worst depression. The worst.

Because its hard to realize now that that was the end of the great depression, you know. All of a sudden all of this is in front of me and I'm solvent, you know. I'm making some money and I know where my next meal is coming from, and I have a new pair of shoes and that's it.

So people have been hurting and I understand that. And it doesn't give them comfort or solace for me to tell them, you know, but for me, we would be in a worldwide depression.

You largely constructed your depression. It wasn't given to you. Therefore, you can deconstruct it.

The Great War proved how confused the world is. Depression is proving it again.

Good humor is a tonic for mind and body. It is the best antidote for anxiety and depression. It is a business asset. It attracts and keeps friends. It lightens human burdens. It is the direct route to serenity and contentment.

But with the slow menace of a glacier, depression came on. No one had any measure of its progress; no one had any plan for stopping it. Everyone tried to get out of its way.

As far as I was concerned, the Depression was an ill wind that blew some good. If it hadn't occurred, my parents would have given me my college education. As it was, I had to scrabble for it.

I prize the Depression, for instance, because I learned the value of things in the Depression that a way people who don't have to worry about such things never learned to prize it really, I believe.

At a time when going to college has never been more important, it's never been more expensive, and our nation's families haven't been in this kind of financial duress since the great depression. And so what we have is just sort of a miraculous opportunity simply by stopping the subsidy to banks when we already have the risk of loans. We can plow those savings into our students. And we can make college dramatically more affordable, tens of billions of dollars over the next decade.

Depression is when you have lots of love, but no one's taking.

Depression scares people off. It makes me laugh that it has that kind of effect.

The miserable failures of capitalist economies in the Great Depression were root causes of worldwide social and political disasters.

Depression, as far as I'm concerned, is just a waste of time.

I just think my body can't handle it any more. I did try a little drink a while back, and I was actually physically ill. I went into an immediate depression, and felt awful, just dreadful. So that's it. I'm over it now.

I felt very strongly the whole social impact of that depression, you know, and I felt very strongly about the efforts that this Resettlement Administration was trying to accomplish; resettling people, helping them, and so on.

I can do comedy, so people want me to do that, but the other side of comedy is depression. Deep, deep depression is the flip side of comedy. Casting agents don't realize it but in order to be funny you have to have that other side.

Joining another big time rock band was the last thing I was looking for, but as the tour went on, I really dug playing to a lot of people, the band sounded great, and just being out there again, got me over my depression and so I decided to hop on board.

The most striking development of the great depression of 1929 is a profound skepticism of the future of contemporary society among large sections of the American people.

Recovering from the suicide of a loved one, you need all the help you can get, so I very much recommend a meditation program. The whole picture of how to recover from this has to do with body, mind, and spirit. That's applicable to any kind of depression.

I want to help people with depression understand that there is hope, so that they can get the help they need to live rich, fulfilling lives.

I found, when I left, that there were others who felt the same way. We'd meet, they'd come and seek me out, we'd talk about the future. And I found that their depression and pessimism was every bit as acute as mine.