"Behind all the complexities of modern political economy
lies the simple fact that human beings are, speaking generally, of two persuasions:
the first would spend tomorrow what they earn today;
the second would spend today what they hope to earn tomorrow.
From this rudimentary biological fact arise all conflicts that lead to economic crises:
to panics, depressions, violent and revolutionary transfers of wealth,
and perhaps most wars.”
Freeman Tilden, ‘A World in Debt’ – 1935