Increased wages, higher pensions, more unemployment insurance, all are of no avail if the purchasing power of money falls faster.

Government is not a substitute for people, but simply the instrument through which they act. And if the individual fails to do his duty as a citizen, government becomes a very deadly instrument indeed.

The main purpose of the stock market is to make fools of as many men as possible.

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.

We can't cross that bridge until we come to it, but I always like to lay down a pontoon ahead of time.

A dangerous fallacy is to repudiate freedom in favor of an unknown future. What else but our own sturdy reliance on freedom can explain the unexampled record this country has made? In a period scarcely twice my own lifetime it has risen from nothingness to become the world's greatest power. It has become the ark of the covenant of freedom.

Society can progress if men's labors show a profit - if they yield more than is put in. To produce at a loss must leave less for all to share.