Colleges don't teach economics properly. Unfortunately we learn little from the experience of the past. An economist must know, besides his subject, ethics, logic, philosophy, the humanities and sociology, in fact everything that is part of how we live and react to one another.

Never answer a critic, unless he's right.

Vote for the man who promises least; he'll be the least disappointing.

Making a success of the job at hand is the best step toward the kind you want.

I never lost money by turning a profit.

Nothing did more to spur the boom in stocks than the decision made by the New York Federal Reserve bank, in the spring of 1927, to cut the rediscount rate. Benjamin Strong, Governor of the bank, was chief advocate of this unwise measure, which was taken largely at the behest of Montagu Norman of the Bank of England....At the time of the Banks action I warned of its consequences....I felt that sooner or later the market had to break.

The art of living lies less in eliminating our troubles than in growing with them.