“I know of no severe depression, in any country or any time, that was not accompanied by a sharp decline in the stock of money and equally of no sharp decline in the stock of money that was not accompanied by a severe depression.”
As quoted in The Money Masters (1995)
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Milton Friedman 158
American economist, statistician, and writer 1912–2006Related quotes
“A severed foot is the ultimate stocking stuffer.”
Strategic Grill Locations
Source: The borderline syndrome, (1968), p. 95
[describing the historical causes of the modern tendency to make intellect the servant of alien interests]
The Integrity of the Intellect (July 1920)

“It is impossible to add the stock of money to the flow of saving.”
Source: Contributions to Modern Economics (1978), Chapter 4, The Concept of Hoarding, p. 32

“but then I remembered how crass it is to talk money or stocks with university types.”
Part VII, The Margin Surplus, Ghana a Goner, p. 281.
Running Money (2004) First Edition

Source: Money: Whence It Came, Where It Went (1975), Chapter XIV, When The Money Stopped, p. 183-184.
[Austin Chronicle, http://www.austinchronicle.com/screens/2006-01-27/329543/, Punk, Puppets, and Manson as Messiah: John Roecker on 'Live Freaky! Die Freaky!', January 27, 2006, Marc, Savlov, Austin Chronicle Corp.]
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