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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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Amity Shlaes
Age: 64
Born: 1960
Born: September 10
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Difference
Lose
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Recession
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Depression
Simple
Mines
Jobs
Mine

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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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.
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The lucky biographers find themselves drawn into a sort of friendship with their subject.
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With demands for special education or standardized test prep being shouted in their ears, public schools can't always hear a parent when he says: 'I want my child to be able to write contracts in Spanish,' or, 'I want my child to shake hands firmly,' or, 'I want my child to study statistics and accounting, not calculus.
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In a way, Calvin Coolidge is better than Reagan. His tax rates were lower, and he cut budgets.
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Coolidge was a federalist. You go back and read him and it's almost intimidating to write about him because he writes better himself than anyone. He's one of the best writers as presidents go.
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Coolidge believed that government officials who tell themselves that spending benefits the economy delude themselves and the citizens. Government budgets promote human freedom.
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People value Halloween, like Valentine's Day, because they can tell themselves that it's not merely secularized but actually secular, which is to say, not Christian, Jewish, Hindu or Muslim.
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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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The 1920s are the decade that signaled the arrival of a gift that still means a lot to us: Saturday.
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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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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.
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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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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.
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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.
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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.
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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 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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Economics are part of our life. We try to treat them separately, like over there is the economy and here is history. Econ affects history and history often doesn't get it right if it doesn't respect econ.
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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