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"That meant that firms could not sell their assets to meet their operation expenses without taking huge and unnecessary losses: essentially this meant that even solvent firms had the real possibility of declining bankruptcy." — Jan 21, 2019 12:08PM
"That meant that firms could not sell their assets to meet their operation expenses without taking huge and unnecessary losses: essentially this meant that even solvent firms had the real possibility of declining bankruptcy." — Jan 21, 2019 12:08PM
“I cannot leave this subject as though its just treatment wholly depended either on our own pledges or economic facts. The policy of reducing Germany to servitude for a generation, of degrading the lives of millions of human beings, and of depriving a whole nation of happiness should be abhorrent and detestable, - abhorrent and detestable, even if it were possible, even if it enriched ourselves, even if it did not sow the decay of the whole civilized life of Europe. Some preach it in the name of Justice. In the great events of man's history, in the unwinding of the complex fates of nations Justice is not so simple. And if it were, nations are not authorized, by religion or by natural morals, to visit on the children of their enemies the misdoings of parents of rulers.”
― The Economic Consequences of the Peace
― The Economic Consequences of the Peace
“The businessman is only tolerable so long as his gains can be held to bear some relation to what, roughly and in some sense, his activities have contributed to society.”
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“The political problem of mankind is to combine three things: economic efficiency, social justice and individual liberty.”
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“When the final result is expected to be a compromise, it is often prudent to start from an extreme position.”
― The Economic Consequences of the Peace
― The Economic Consequences of the Peace
“Human beings, viewed as behaving systems, are quite simple. The apparent complexity of our behavior over time is largely a reflection of the complexity of the environment in which we find ourselves.”
― The Sciences of the Artificial
― The Sciences of the Artificial
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