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.

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.

Most of the successful people I know mostly listen, not talk.

Peace is never long preserved by weight of metal or by an armament race. Peace can be made tranquil and secure only by understanding and agreement fortified by sanctions. We must embrace international cooperation or international disintegration. Science has taught us how to put the atom to work. But to make it work for good instead of for evil lies in the domain dealing with the principles of human dignity. We are now facing a problem more of ethics than of physics.

Behind the black portent of the new atomic age lies a hope which, seized upon with faith, can work out salvation... Let us not deceive ourselves: we must elect world peace or world destruction.

Whatever men attempt, they seem driven to overdo. When hopes are soaring, I always repeat to myself that two and two still make four.

Learn to take losses quickly and cleanly. There is something about inside information which seems to paralyze a man's reasoning powers. Beware of barbers, beauticians, waiters - or anyone - bringing gifts of 'inside' information or tips. Don't try to be a jack of all investment. Stick to the field you know best.