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"I am myself persuaded, on the basis of extensive study of the historical evidence, that... the severity of each of the contractions - 1920-21, 1929-33, and 1937-38 - is directly attributable to acts of commission and omission by the Reserve authorities and would not have occurred under earlier monetary and banking arrangements."

— Milton Friedman
milton friedman Quotes Reserves,Severity,Historical

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Milton Friedman
Reserves
Severity
Historical
Conspiracy
Arrangements
Contractions
Banking
Monetary
Omission

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The work of Henry James has always seemed divisible by a simple dynastic arrangement into three reigns: James I, James II, and the Old Pretender

— Philip Guedalla

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A certain type of person strives to become a master over all, and to extend his force, his will to power, and to subdue all that resists it. But he encounters the power of others, and comes to an arrangement, a union, with those that are like him: thus they work together to serve the will to power. And the process goes on.

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