Need is not demand. Effective economic demand requires not merely need but corresponding purchasing power.

To try to cure unemployment by inflation rather than by adjustment of specific wage-rates is like trying to adjust the piano to the stool rather than the stool to the piano.

We cannot distribute more wealth than is created. We cannot in the long run pay labor as a whole more than it produces.

The government has nothing to give to anybody that it doesn't first take from someone else.

Capitalism will continue to eliminate mass poverty in more and more places and to an increasingly marked extent if it is merely permitted to do so.

Today is already the tomorrow which the bad economist yesterday urged us to ignore.

From a strictly economic point of view, buying gold in a major inflation and holding it probably presents the least risk of capital loss of any investment or speculation.