Quotes of All Topics . Occasions . Authors
It's insane to try to balance the budget.
This paper was one of my digressions into abstract economics.
But there is no joy in Mudville - mighty Casey has "struck out."
Don't you think you're just rearranging deck chairs on the Titanic?
I have suggested that scientific progress requires a favorable environment.
It never does much good to find out why you can't; put your effort into what you can do.
The nominal budget is a poor indicator of the impact of government outlays and revenues.
Deficits do not in themselves produce inflation, nor does a balanced budget assure a stable price level.
Let us cherish the hope that the day is not far distant when we will be in the midst of this next adventure.
The insane pursuit of the holy grail of a balanced budget in the end is going to drive the economy into a depression.
Increasingly prices are set by sellers to raise their prices without a loss of sales sufficient to wipe out the gain.
Larger deficits are necessary and proper means to mitigate unemployment as the far greater evil in terms of human welfare.
Balancing a nominal budget will solve nothing, and attempting to achieve such a spurious balance will produce much mischief.
The atomic bombs will surely shorten the war, and let us hope that they will effectively end war as a possibility in human affairs.
No individual is alone responsible for a single stepping stone along the path of progress, and where the path is smooth progress is most rapid.
It (land value taxation) guarantees that no one dispossess fellow citizens by obtaining a disproportionate share of what nature provides for humanity.
I have gotten over feeling badly. We would be eternally miserable if our errors worried us too much because as we push forward we will make plenty more.
Certainly, it may bring to light such a deeper knowledge of the structure of matter as to constitute a veritable discontinuity in the progress of science.
Currently a level of unemployment of 7% or more seems to be required to keep inflation from accelerating, a level quite unacceptable as a permanent situation.
The supply-side effect of a restrictive monetary policy is likely to be perverse, in that high interest rates enter into costs and thus exert inflationary pressure.
The day when the scientist, no matter how devoted, may make significant progress alone and without material help is past. This fact is most self-evident in our work.
There is no real justification for a requirement that a budget of any sort should be balanced, except as a rallying point for those who seek to hamstring government.
Currently a level of unemployment of 7 percent or more seems to be required to keep inflation from accelerating, a level quite unacceptable as a permanent situation.
There is no reason inherent in the real resources available to us why we cannot move rapidly within the next two or three years to a state of genuine full employment.
Firms would be given initial entitlements to gross markup on the basis of past performance. These entitlements would be transferable and a market in them would be developed.
If unemployment could be brought down to say 2 percent at the cost of an assured steady rate of inflation of 10 percent per year, or even 20 percent, this would be a good bargain.
Nearly all educational expenditure should be considered a capital outlay. Education provides a future return in the form of enhanced taxable income and an enhanced quality of life.
In the Radiation Laboratory we count it a privilege to do everything we can to assist our medical colleagues in the application of these new tools to the problems of human suffering.
Practically, the desirable situation ought to be one in which any reasonably responsible person willing to accept available employment can find a job paying a living wage within 48 hours.
Nearly all educational expenditure should be considered a capital outlay, whether it provides a future return in the form of enhanced taxable income or in terms of an enhanced quality of life.
From the beginning of the Radiation Laboratory, I have had the rare good fortune of being in the center of a group of men of high ability, enthusiastic and completely devoted to scientific pursuits.
Instead of an attic with a few test tubes, bits of wire and odds and ends, the attack on the atomic nucleus has required the development and construction of great instruments on an engineering scale.
To stick to the present situation would be something like a man who was observed in Times Square looking earnestly along the pavement. He was asked what he was looking for. He said "I lost my watch."
For it goes without saying that this great recognition at this time will aid tremendously our efforts to find the necessarily large funds for the next voyage of exploration farther into the depths of the atom.
The great increase in longevity has produced a surge in the desire to accumulate assets for retirement. It has outpaced the ability of the private sector to produce assets, so we need a larger government debt.
I define genuine full employment as a situation where there are at least as many job openings as there are persons seeking employment, probably calling for a rate of unemployment, as currently measured, of between 1 and 2 percent.
Oh, somewhere in this favoured land the sun is shining bright; The band is playing somewhere; and somewhere hearts are light; And somewhere men are laughing; and little children shout; But there is no joy in Mudville- great Casey has struck out.
... often analysis seems to be based on the assumption that future economic output is almost entirely determined by inexorable economic forces independently of government policy so that devoting more resources to one use inevitably detracts from availability for another.
The supply-side effect of a restrictive monetary policy, moreover, is likely to be perverse. High interest rates enter into costs and thus exert inflationary pressure, as well as inhibiting the expansion of capacity or the introduction of cost -reducing capital improvements.
Economists are almost unanimous in conceding that the land tax has no adverse side effects. ...Landowners ought to look at both sides of the coin. Applying a tax to land values also means removing other taxes. This would so improve the efficiency of a city that land values would go up more than the increase in taxes on land.
Firms would be given initial entitlements to gross markup on the basis of past performance, adjusted by changes in labor and capital inputs. This is somewhat similar to the definition of normal profits under some versions of the wartime excess -profits tax. Entitlements would be transferable and a competitive market established.
I am mindful that scientific achievement is rooted in the past, is cultivated to full stature by many contemporaries and flourishes only in favorable environment. No individual is alone responsible for a single stepping stone along the path of progress, and where the path is smooth progress is most rapid. In my own work this has been particularly true.
The day when the scientist, no matter how devoted, may make significant progress alone and without material help is past. This fact is most self-evident in our work. Instead of an attic with a few test tubes, bits of wire and odds and ends, the attack on the atomic nucleus has required the development and construction of great instruments on an engineering scale.
We have reached the age, those of us to whom fortune has assigned a post in life's struggle, when beaten and smashed and biffed by the lashing of the dragon's tail, we begin to appreciate that the old man was not such a fool after all. We saw our parents wrestling with the same dragon, and we thought, though we never spoke a thought aloud, 'Why doesn't he hit him on the head?' Alas, comrads, we know now. We have hit the dragon on the head and we have seen the dragon smile.