The Coolidge Bull market was a remarkable phenomenon. The ruthlessness of its liquidation was, in its own… — John Kenneth Galbraith

But now, as throughout history, financial capacity and political perspicacity are inversely correlated. Long run salvation by men of business has never been highly regarded if it means disturbance of orderly life and convenience in the present. So inaction will be advocated in the present even though it means deep trouble in the future. Here, at least equally with communism, lies the threat to capitalism. It is what causes men who know that things are going quite wrong to say that things are fundamentally sound.

But there is still a considerable difference between a failure to do enough that is right and a determination to do much that is wrong.

In accordance with an old but not outworn tradition, it might now be wise for all to conclude that crime, or even misbehavior, is the act of an individual, not the predisposition of a class.