25 YEARS AGO IN REASON.

• Position: Brief Article

* "If you are a big businessman, don't waste your time reading this article. If your yearly losses run into the hundreds of millions of dollars, and if you and your management team are sufficiently incompetent, your survival is assured: Washington, if it hasn't already done so, will bail you out and keep bailing you out."

--Eugene Guccione, "Business Survival in the 1970's"

* "If you are going to use gold as money, people have to did gold out of earth in one part of the world in order to bury it under the earth somewhere else. There is a strong incentive for people to try to avoid that process, and that's why they add fiduciary elements. That's why all gold standards deteriorate into credit standards, and that's why you...