The very fact that we don’t know what debt is, the very flexibility of the concept, is the basis of its power.
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Those of us who do not have armed men behind us cannot afford to be so exacting.
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For a very long time, the intellectual consensus has been that we can no longer ask Great Questions. Increasingly, it’s looking like we have no other choice.
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Economists generally speak of three functions of money: medium of exchange, unit of account, and store of value.
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Money provides a way to make multilateral exchange much simpler.
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we also hanker after meaning’
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anyone who would rather be doing something useful with themselves.
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very familiar in academic contexts) who spend their time staffing committees that discuss the problem of unnecessary committees.
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Could there be anything more demoralizing than having to wake up in the morning five out of seven days of one’s adult life to perform a task that one secretly believed
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did not need to be performed—that was simply a waste of time or resources, or that even made the world worse?
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