The truth seems . . . to be that in the ultimate and essential problem the economic factor is relatively superficial and unimportant.

In the long run all producers are forced to use the most efficient methods or give place to others who do.

All science is static in the sense that it describes the unchanging aspects of things.

Always history is being made; opinions attitudes and institutions change, and there is evolution in the nature of capitalism

Never waste any time you can spend sleeping.

I have been....moved to wonder whether my job is a job or a racket, whether economists, and particularly economic theorists, may not be in the position that Cicero, citing Cato, ascribed to the augurs of Rome-that they should cover their faces or burst into laugher when they met on the street.

If all properly economic problems were solved once for all . . . the social struggle and strife would . . . [not necessarily] be reduced in amount or intensity . . . in the absence of some moral revolution which could by no means be assumed to follow in consequence of this change itself.