Profits in business always depend on the rate of interest: the higher the interest, the higher the rate of profit required. – James Buchan
Cause and effect, the riddle of all history, is a particular devil in financial history and never more so than today, where entire classes of security are collapsing not on public exchanges and stock-tickers but because there are no markets to establish prices this side of nothing. – 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. – James Buchan
Even before he came to power in 1997, Gordon Brown promised to change the accounts to parliament from simple litanies of cash in and cash out, to a more commercial system that took notice of the public property the departments were using. This system is known as resource accounting. – James Buchan