“Political union means transferring the prerogatives of national legislatures to the European parliament, which would then decide how to structure Europe’s fiscal, banking, and monetary union.”

The 24% unemployment reached at the depths of the Great Depression was no picnic.

Why was there so much work-sharing in the 1930s? One reason is that government pushed for it. In his memoirs, President Herbert Hoover estimated that as many as two million workers avoided unemployment as a result of his efforts to promote work-sharing.

Across the continent, political divisions are deepening. For all of these reasons, the specter of a euro zone collapse has not been dispatched.

For those unfortunate enough to experience it, long-term unemployment – now, as in the 1930s – is a tragedy. And, for society as a whole, there is the danger that the productive capacity of a significant portion of the labour force will be impaired.

The consequences of a collapse would not be pretty. Whichever country precipitated it – Germany by threatening to abandon the euro, or Greece or Spain by actually doing so – would trigger economic chaos and incur its neighbours’ wrath.

Southern Europe has not done enough to enhance its competitiveness, while northern Europe has not done enough to boost demand. Debt burdens remain crushing, and Europe’s economy remains unable to grow.

The 1992 crisis proved that the existing system was unstable. Not moving forward to the euro would have set up Europe for even more disruptive crises.

While holding the eurozone together will be costly and difficult and painful for the politicians, breaking it up will be even more costly and more difficult.

As for the single market, the E.U.’s landmark achievement, there is no question that a euro zone breakup would severely disrupt its operation in the short run.

More than the Big Mac, Coca Cola, or Levi’s 501 jeans, the dollar is surely the United States’ signature export.

They’ve asked me to do this temporarily. I don’t know what temporarily means. Life is temporary.

I got an idea: people like news why don’t we write the news down on a piece of paper, and we’ll gas them up and drive them to everyone’s house.

Success means using your knowledge and experience to satisfy yourself. Significance means using your knowledge and experience to change the lives of others.

To be a spiritual warrior means to develop a special kind of courage, one that is innately intelligent, gentle, and fearless.

Earnestness means willingness to live with energy, though energy bring pain.

I might really have gone round the bend. I mean people who get visions and see a gigantic light descend on them from the sky can’t be all there but if so I feel mighty happy. If one is happy and cracked it’s much better than being unhappy and sane.

If I have affected someone in a positive way, that means a lot to me.

A man must live like a great brilliant flame and burn as brightly as he can. In the end he burns out. But this is far better than a mean little flame.