Third party politics, at least since La Follette, has always had an element of romance.

We have a swarm of people in the stock market - not out of knowledge, not out of expectation, but out of basically a gambling instinct, the hope that prices will go up.

It is a commonplace of modern technology that problems have solutions before there is knowledge of how they are to be solved.

In the United States, though power corrupts, the expectation of power paralyzes.

The income men derive from producing things of slight consequence is of great consequence. The production reflects the low marginal utility of the goods to society. The income reflects the high total utility of a livelihood to a person.

A very complicated mass of things influences the economy - the speculative effect, government policy, consumer borrowing and spending, the level of technical innovation (which I concede, although everyone emphasizes it too much), and much more - including, of course, the rate of inflation.

The shortcomings of economics are not original error but uncorrected obsolescence. The obsolescence has occurred because what is convenient has become sacrosanct. Anyone who attacks such ideas must seem to be a trifle self-confident and even aggressive. The man who makes his entry by leaning against an infirm door gets an unjustified reputation for violence. Something is to be attributed to the poor state of the door.