Reality is never a golden age.

Unemployment is a reproach to a democratic government.

The very nature of economics is rooted in nationalism. ... It [was] developed ... in the hope of throwing light upon questions of policy. But policy means nothing unless there is an authority to carry it out, and authorities are national.

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

It seems that neither the Keynesian nor the Marxian prognosis of the future of capitalism is being fulfilled and we are left without any particular theory as to what will happen next.

Ideology is like breath: you never smell your own.

Progress is slow partly from mere intellectual inertia. In a subject where there is no agreed procedure for knocking out errors, doctrines have a long life. A professor teaches what he was taught, and his pupils, with a proper respect and reverence for teachers, set up a resistance against his critics for no other reason than that it was he whose pupils they were.