To think that the new economy is over is like somebody in London in 1830 saying the entire industrial revolution is over because some textile manufacturers in Manchester went broke. ↗
They demanded a monopoly of the coasting trade, in order to get higher freights than they could get in open competition with the carriers of the world. ↗
When you get to be President, there are all those things, the honors, the twenty-one gun salutes, all those things. You have to remember it isn't for you. It's for the Presidency. ↗
In economics, one of the most important concepts is 'opportunity cost' - the idea that once you spend your money on something, you can't spend it again on something else. ↗