If a rise in wages does not raise prices, a fall will not reduce them.

A depression is a situation of self-fulfilling pessimism.

It is the rate of investment which governs the rate of saving, and not vice versa.

Unemployment is a reproach to a democratic government.

The only thing worse than being exploited by capitalism is not being exploited by capitalism.

An economy may be in equilibrium from a short-period point of view and yet contain within itself incompatibilities that are soon going to knock it out of equilibrium.

Income from property is not the reward of waiting, it is the reward of employing a good stockbroker.