Politics is the art of choosing between the disastrous and the unpalatable.

The traveler to the United States will do wellto prepare himself for the class-consciousness of the natives. This differs from the already familiar English version in being more extreme and based more firmly on the conviction that the class to which the speaker belongs is inherently superior to all others.

We have escapist fiction, so why not escapist biography?

War remains the decisive human failure.

The stock market is but a mirror which provides an image of the underlying or fundamental economic situation. Cause and effect run from the economy to the stock market, never the reverse. In 1929 the economy was headed for trouble. Eventually that trouble was violently reflected in Wall Street.

Economics is extremely useful as a form of employment for economists.

Few people at the beginning of the nineteenth century needed an adman to tell them what they wanted.