I Think The Role Of The Federal

Ideas Are Inherently Conservative. They Yield Not To The Attack Of Other Ideas But To The Massive Onslaught Of Circumstance With Which They Cannot Contend.

Mr. David Stockman Has Said That Supply-side Economics Was Merely A Cover For The Trickle-down Approach To Economic Policy — What An Older And Less Elegant Generation Called The Horse-and-sparrow Theory: If You Feed The Horse Enough Oats, Some Will Pass Through To The Road For The Sparrows.

Faced With The Choice Between Changing One's Mind And Proving That There Is No Need To Do So, Almost Everyone Gets Busy On The Proof.

There Is An Enormous Thrust In Our Time To Have A Simple Answer. And That Simple Answer Is That All Depends On Alan Greenspan And The Federal Reserve. And Alan, Who Is An Old Acquaintance Of Mine, Is A Marvelous Performer In The Impression He Gives Of Enormously Great Perception.

People Are The Common Denominator Of Progress; No Improvement Is Possible With Unimproved People.