<div>An interesting quote is below from John Stuart Mill that might relate to the insubstantial "paper" wealth that led to the current financial crisis. Google Books offers the entire text of J. S. Mill's book quoted here online, it appears, free of charge:</div>
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<div><a href="http://books.google.com/books?id=VFs6AAAAMAAJ&pg=PA94&lpg=PA94&dq=j+s+mill+principles+of+political+economy+the+philosphers+stone+could+not+be+expected+to+do+more&source=web&ots=io47-KaDSd&sig=j_CPqSdIUUVEy6qOqSWKD3-nah4&hl=en&sa=X&oi=book_result&resnum=2&ct=result#PPA94,M1">http://books.google.com/books?id=VFs6AAAAMAAJ&pg=PA94&lpg=PA94&dq=j+s+mill+principles+of+political+economy+the+philosphers+stone+could+not+be+expected+to+do+more&source=web&ots=io47-KaDSd&sig=j_CPqSdIUUVEy6qOqSWKD3-nah4&hl=en&sa=X&oi=book_result&resnum=2&ct=result#PPA94,M1</a></div>
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<div>pg. 93-94:</div>
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<div>"To be able to pay off the national debt, defray the expenses of government without taxation, and in fine, to make the fortunes of the whole community - is a brilliant prospect, <i>when once a man is capable of believing that printing a few characters on bits of paper will do it</i>. The philosopher's stone could not be expected to do more. </div>
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<div>As these projects, however often slain, always resuscitate, it is not superfluous to examine one or two of the fallacies by which the schemers impose upon themselves."</div>
<div><br>J.S. Mill, "Principles of Political Economy" 1848 </div>
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<div>I wonder, is this quote one of those philosopher's irrelevancies akin to debating how many angels can dance on the head of a pin?</div>
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<div>I recall an academic discussion between academics on Vision2020 relating to this, in another though perhaps (I say perhaps) somehow related context, regarding economic theory.</div>
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<div>Vision2020 Post: Ted Moffett</div>