The reader might reflect that an awful lot of supposing has to take place in order for the quantity theory of money to be true. - Paul Ormerod

Once the true relationship between inflation and unemployment is understood, with luck and skill, a free lunch is possible.

Many Europeans, while admiring the strength and power of the American economy, undoubtedly feel that the system of social values which prevails in the United States, manifested in the acute problems evident in the inner cities and the level of violent crime, for example, leaves much to be desired.

We need to abandon the economist's notion of the economy as a machine, with its attendant concept of equilibrium. A more helpful way of thinking about the economy is to imagine it as a living organism.