[...] there is no sight in the world more awful than that of an old-time economist, foam-flecked at the mouth and hell-bent to cure inflation by monetary discipline. God willing, we shan't soon see his like again.And, in honor of Samuelson, today's edition of Blockquoting X will be a double feature. This one comes from the 1970 edition of his textbook:
"What good does it do a black youth to know that an employer must pay him $2.00 an hour if the fact that he must be paid that amount is what keeps him from getting a job?"
[HT: David Henderson @ Econlog]