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Europe unified its monetary policy through the euro before it unified politically, therefore sustaining member countries' abilities to pursue the kind of independent fiscal policies that can strain a joint currency.

Amity Shlaes

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Amity Shlaes
Age: 64
Born: 1960
Born: September 10
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More quotes by Amity Shlaes

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Coolidge cut the budget, and even better, cut it during peace and prosperity. He left a federal budget lower than the one that greeted him when he arrived in office. He managed to freeze or cut the budget over more than five years in office. If you look at charts of presidents - Nixon, Ike, and Reagan - you see them failing on this score.
Amity Shlaes
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Coolidge thought budgets were virtuous. He had his econ straight. He didn't just cut taxes, he also cut the budget.
Amity Shlaes
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Coolidge and his treasury secretary Mellon loved new technology. Like JFK, C.C. divined that a new technology could lift the nation out of its doldrums the only difference was that JFK's new technology was space travel, and Coolidge's travel by airplane.
Amity Shlaes
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Anyone who experienced World War I close-hand was grossed out by it forever. It just was so awful.
Amity Shlaes
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Coolidge showed that the best government was the one that got out of the way. When he refrained, the economy grew, the Ku Klux Klan faded, and Americans got Model A's and automobiles.
Amity Shlaes
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Today we care about budgets more than anything. Our American future hangs on the ability of government to cut budget.
Amity Shlaes
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Coolidge really hated government being in the power business. He thought it was wrong. He saw the potential for growth in the power business. He didn't want the federal government in it.
Amity Shlaes
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There's something unsettling about the education of a child who comfortably enumerates the rules for surviving zombie apocalypse but finds it uncomfortable to enumerate the rules of his grandparents' faith, if he knows them.
Amity Shlaes
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The donning of the ear buds marks the beginning of teen life, when children set off on their own for the passage through adolescence.
Amity Shlaes
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Our conscience, our faith, our local community, even our online hobby clubs - all civilize us.
Amity Shlaes
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If Coolidge were a stock, he'd be a buy. The experts have historically ranked Coolidge in the bottom quartile or bottom half of all presidents. But his economic performance and his statesmanship suggest Coolidge belongs in the top quarter of presidents. The disparity between the Coolidge price and Coolidge value is huge. So revision is warranted.
Amity Shlaes
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I'm not sure Roosevelt was quite a monster, he just did a poor job on the economics.
Amity Shlaes
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We're in a kind of vicious cycle where the media tell the politicians, and the politicians tell the people, that perception is reality, and the perception of saving dooms a politician. I don't believe perception is reality, or that all Americans think that.
Amity Shlaes
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Although unions may be good for a worker, singular, they are not always good for workers, plural. Especially when it comes to finding a job.
Amity Shlaes
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Today many politicians suggest that where the federal government does not act, there must be anarchy. That view is odd, blinkering out the work of state and towns, which until recently did much of our charitable and cultural work. That view also blinkers out the role of mutual societies and churches.
Amity Shlaes
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The 1920s are the decade that signaled the arrival of a gift that still means a lot to us: Saturday.
Amity Shlaes
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Everybody should pay some tax, just as everybody should vote.
Amity Shlaes
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The difference between recession and depression is simple. Recession, goes the saying, is when you lose your job depression is when I lose mine.
Amity Shlaes
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In a way, Calvin Coolidge is better than Reagan. His tax rates were lower, and he cut budgets.
Amity Shlaes
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Right now we're concerned about budget. Right now we're concerned about the prospect of interest rate rise. We're concerned about government corruption, government handing out deals to specific groups. Coolidge fixed a problem like that. He came into a rough time and he, and Harding before him, fixed that by budgeting.
Amity Shlaes