This fate, however, does not have to be ours. The U.S. economy is capable, in my judgment, of delivering more. 1  Daniel Patrick Moynihan (1993), "Defining Deviancy Down: How We've Become Accustomed to Alarming Levels of Crime and Destructive Behavior," American Scholar, Winter.
2  The views expressed herein are my own and do not necessarily reflect the views of other members of the Board of Governors or of the Federal Open Market Committee. I am grateful for the valuable assistance of Karen Dynan and Nellie Liang of the Board staff who contributed to these remarks. 3  See Moynihan, "Defining Deviancy Down," note 1.