Depression Quote by Carroll Quigley
“Thus, the use of fiat money is more justifiable in financing a depression than in financing a war.”
About This Quote
Source Book: The Evolution of Money, 1965
Fiat money is more appropriate for economic recovery than for war spending because it can be expanded without depleting resources.
In simple terms: Fiat money works better in depressions than wars.
Key Takeaway
Use monetary policy to support recovery, not conflict.
Themes
economics
policy
war
depression
Mood
analytical
critical
Type
economic
political
When to use this quote
- government stimulus
- post‑war reconstruction
- economic stabilization
Key Concepts
fiat currency
inflation
resource allocation
Questions to Reflect On
- Should monetary policy differ in peace versus conflict?
- How does inflation affect war economies?
A Different Perspective
War financing often demands resources that fiat money cannot replace.
