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
If good history is dispassionate history, it must naturally wait until the passions of the period subside. – 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
Profits in business always depend on the rate of interest: the higher the interest, the higher the rate of profit required. – James Buchan
I strongly believe that missionaries make better products. They care more. For a missionary, its not just about the business. There has to be a business, and the business has to make sense, but thats not why you do it. You do it because you have something meaningful that motivates you. – Jeff Bezos