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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
Author
Biographer
Columnist
Journalist
Writer
Goes
Loses
Recession
Differences
Recessions
Saying
Depression
Simple
Mines
Jobs
Mine
Difference
Lose

More quotes by 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.
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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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Anything can be done if you find friends to do it with.
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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 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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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.
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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.
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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 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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Fame is worth less than service.
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.
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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
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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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In a way, Calvin Coolidge is better than Reagan. His tax rates were lower, and he cut budgets.
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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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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Laws must be justified by something more than the will of the majority. They must rest on the eternal foundation of righteousness.
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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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.
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