Perhaps the prevalence of pedantry may be largely accounted for by the common error of thinking that, because useful knowledge should be remembered, any kind of knowledge that is at all worth learning should be remembered too.
It is certainly true that whatever a man may do or say, the most significant thing about him is what he thinks; and significant also is how he came to think it, why he continued to think it, or, if he did not continue, what the influences were which caused him to change his mind .
Americans have a strange notion that the ordinary laws of economics do not apply to them. So doubtless they will think they are prosperous if the boom starts, and that deficits and indebtedness are merely signs of how prosperous they are.