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An effective regulatory system today would be one guided by a few basic premises that can be applied flexibly but also universally.

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Irving Fisher

The public psychology of going into debt for gain passes through several more or less distinct phases: (a) the lure of big prospective dividends or gains in income in the remote future; (b) the hope of selling at a profit, and realizing a capital gain in the immediate future; (c) the vogue of reckless promotions, taking advantage of the habituation of the public to great expectations; (d) the development of downright fraud, imposing on a public which had grown credulous and gullible.

Expectations, Gains, Psychology, Realizing, Selling
Same Author Quotes

Stock prices have reached what looks like a permanently high plateau. I do not feel there will be soon if ever a 50 or 60 point break from present levels, such as (bears) have predicted. I expect to see the stock market a good deal higher within a few months.

Depression, Point Break, Looks, Plateau, Reached, Higher

Stocks have reached what looks like a permanently high plateau.

Funny, Depression, Money, High, Permanently, Plateau

Our society will always remain an unstable and explosive compound as long as political power is vested in the masses and economic power in the classes. In the end one of these powers will rule. Either the plutocracy will buy up the democracy, or the democracy will vote away the plutocracy.

Class, Long, Political, Democracy, Plutocracy

The effort of the economist is to "see," to picture the interplay of economic elements. The more clearly cut these elements appear in his vision, the better; the more elements he can grasp and hold in his mind at once, the better. The economic world is a misty region. The first explorers used unaided vision. Mathematics is the lantern by which what before was dimly visible now looms up in firm, bold outlines. The old phantasmagoria disappear. We see better. We also see further.

Cutting, Math, Effort, Further, Firm, Mind

Thus, our national circulating medium is now at the mercy of loan transactions of banks, which lend, not money, but promises to supply money they do not possess

Historical, Promise, Bankers, Mercy, Loan, Promises
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