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
Profits in business always depend on the rate of interest: the higher the interest, the higher the rate of profit required. – James Buchan
The truth is, of course, that history is not completed in modern commerce any more than philosophy is perfected in political economy. In other words, there is nothing timeless or God-given about filling stations and penicillin and plastic bags. – James Buchan
The world dominion of western thought, forms of organisation, technology and military force is not God-given, nor eternal, nor greatly appreciated by the rest of the world. – James Buchan