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Updated: June 1, 2025
My feet rest on the topmost step of a stone stairway worn hip-deep in the rocks of eternity by the moccasined tread of foot-prints that run back, not to A. D. or B. C., but to those post-glacial æons when the advances and recessions of an ice invasion from the Poles left seas where now are deserts; when giant sequoia forests were swept under the sands by the flood waters, and the mammoth and the dinosaur and the brontosaur wallowed where now nestle farm hamlets.
"You can come right along up," the landlady called down through the oval spire formed by the ascending hand-rail of the stairs. They found her in a broad, low room, whose ceiling sloped with the roof, and had the pleasant irregularity of the angles and recessions of two dormer windows.
They include high-pressure salesmanship which creates cycles of overproduction within given industries and consequent recessions in production until such time as the surplus is consumed; the use of patent laws to enable larger corporations to maintain high prices and withhold from the public the advantages of the progress of science; unfair competition which drives the smaller producer out of business locally, regionally or even on a national scale; intimidation of local or state government to prevent the enactment of laws for the protection of labor by threatening to move elsewhere; the shifting of actual production from one locality or region to another in pursuit of the cheapest wage scale.
After a while, too, the pedants, according to their wont, began quarrelling about their accents and their recessions. Moreover, there was a rival school at Pergamus where the fame of Crates all but equalled the Egyptian fame of Aristarchus. Insolent! What right had an Asiatic to know anything?
Third, the 8 percent tax credit for investment in machinery and equipment, which, combined with planned revisions of depreciation allowances, will spur our modernization, our growth, and our ability to compete abroad. Moreover pleasant as it may be to bask in the warmth of recovery let us not forget that we have suffered three recessions in the last 7 years.
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