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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 thought budgets were virtuous. He had his econ straight. He didn't just cut taxes, he also cut the budget.
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To investors, job creation is a second-order effect. Market participants care first about interest rates, exchange rates, bond prices and the one great factor that affects all three: the long-term solvency of a bond company called the U.S. government.
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Fame is worth less than service.
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I'm not sure Roosevelt was quite a monster, he just did a poor job on the economics.
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Today we care about budgets more than anything. Our American future hangs on the ability of government to cut budget.
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The 1920s are the decade that signaled the arrival of a gift that still means a lot to us: Saturday.
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Laws must be justified by something more than the will of the majority. They must rest on the eternal foundation of righteousness.
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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.
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Anyone who experienced World War I close-hand was grossed out by it forever. It just was so awful.
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Coolidge's stat was so low he's ranked in the bottom half of presidents. What I found when I encountered this man was the leader I might like to see today.
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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.
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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.
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Coolidge was a pragmatist. He didn't start out with a tax theory. But he observed over time that lower tax rates sometimes brought in extra revenue. The success of his and Treasury Secretary Andrew Mellon's experiment with rate cuts has been obscured by our modern history books.
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Disillusionment can come as fast as a gust, but building faith that the government won't inflate again is like building a new sailboat, a project of years.
Amity Shlaes
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Everybody should pay some tax, just as everybody should vote.
Amity Shlaes
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The lucky biographers find themselves drawn into a sort of friendship with their subject.
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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Anything can be done if you find friends to do it with.
Amity Shlaes
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In the end, all new schools, public or private, snobby or not, add value to the education market, making it bigger and more efficient, in the same way that Zuckerberg added wealth to the economy even for non-Facebook fans.
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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