Quote by James Buchan

Up until the Depression, recession had a moral character: it was supposed to purge the body economic of the greed and excess that attends a business expansion.

Up until the Depression, recession had a moral character: it

Summary

This quote suggests that prior to the Great Depression, economic recessions were seen as having a moral purpose. They were believed to cleanse the economy from greed and excessive behavior that often accompanies periods of economic growth. In other words, recessions were viewed as necessary and beneficial for restoring balance and maintaining ethical standards within the business world. However, the quote does not address how this perception may have changed after the Depression.

Topics

Business

By James Buchan

Liked the quote? Share it with your friends.

Random Quotations

The essence of Government is power and power, lodged as it m

The essence of Government is power and power, lodged as it must be in human hands, will ever be liable to abuse.

Power Government

With fashion, you really need to understand the aspects of c

With fashion, you really need to understand the aspects of construction. Not just design on an iPad.

Design

India is a curious place that still preserves the past, reli

India is a curious place that still preserves the past, religions, and its history. No matter how modern India becomes, it is still very much an old country.

History

No art can be noble which is incapable of expressing thought

No art can be noble which is incapable of expressing thought, and no art is capable of expressing thought which does not change.

Art

There's nothing worse than walking around and talking about

There's nothing worse than walking around and talking about your failed relationship, all day, every day, for months on end.

Relationship

My position is not that John Kerry is either Jesus Christ or

My position is not that John Kerry is either Jesus Christ or the prophet Mohammad. My position is that John Kerry is the possibility of restarting politics.

Politics

Gratitude unlocks the fullness of life. It turns what we hav

Gratitude unlocks the fullness of life. It turns what we have into enough, and more. It turns denial into acceptance, chaos to order, confusion to clarity. It can turn a meal into a feast, a house into a home, a stranger into a friend.

Life Home Order Chaos

On movies, you have a lot of stylists that get things too pr

On movies, you have a lot of stylists that get things too pretty. Everything gets steamed and ironed. It's just not the way we really behave.

Movies

Sometimes opportunities float right past your nose. Work har

Sometimes opportunities float right past your nose. Work hard, apply yourself, and be ready. When an opportunity comes you can grab it.

Julie Andrews Edwards

Inspirational Opportunity

Literature is my Utopia. Here I am not disfranchised. No bar

Literature is my Utopia. Here I am not disfranchised. No barrier of the senses shuts me out from the sweet, gracious discourse of my book-friends. They talk to me without embarrassment or awkwardness.

Books

The things said most confidently by advanced persons to crow

The things said most confidently by advanced persons to crowded audiences are generally those opposite to the fact; it is actually our truisms that are untrue.

G.K. Chesterton

Politics Truth Truism

Pilgrim's Progress, about a man that left his family, it did

Pilgrim's Progress, about a man that left his family, it didn't say why. I read considerable in it now and then. The statements was interesting, but tough.

Family Man Progress