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"The framers of the American Constitution were far from wishing or intending to found a democracy in the strict sense of the word, though, as was inevitable, every expansion of the scheme of government they elaborated has been in a democratical direction. But this has been generally the slow result of growth, and not the sudden innovation of theory; in fact, they had a profound disbelief in theory, and knew better than to commit the folly of breaking with the past. They were not seduced by the French fallacy that a new system of government could be ordered like a new suit of clothes. They would as soon have thought of ordering a new suit of flesh and skin. It is only on the roaring loom of time that the stuff is woven for such a vesture of their thought and experience as they were meditating. They recognized fully the value of tradition and habit as the great allies of permanence and stability. They all had that distaste for innovation which belonged to their race, and many of them a distrust of human nature derived from their creed."
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More by James Russell Lowell
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"I shall always regard this aspect of my dispute with Keynes as the greatest mistake of my professional career, and the book, The Great Depression, which I subsequently wrote, partly in justification o…"
— Lionel Robbins
Economics1898–1984
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