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

At 2 per cent growth a year, an economy doubles in size in just thirty years.

In most Western economies, the general relationship is not in fact between the rate of inflation and the level of unemployment, but between the rate of change of inflation and the rate of change of unemployment.

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.