Bruce Ramsey Quotes & Sayings

On economic matters Garrett had a brilliant simplicity. In November 1913, while editor of the Annalist, he began a monthly column on money in Everybody's, writing as John Parr. One of the most common questions from readers was why the government simply didn't print money to spend on public works, instead of borrowing it at interest. It was a variant of the Coxey idea. Garrett explained that money is not wealth, but a claim on wealth, and that you do not add to wealth by creating more claims to it.4 — Bruce Ramsey