Monetary policy suffers from the unfortunate absence of any occult effect. It has long been clear that economic management...would be greatly facilitated if resort could occasionally be had to witchcraft.

There's no question that in my lifetime, the contrast between what I called private affluence and public squalor has become very much greater. What do we worry about? We worry about our schools. We worry about our public recreational facilities. We worry about our law enforcement and our public housing. All of the things that bear upon our standard of living are in the public sector.

The commencement speech is not, I think, a wholly satisfactory manifestation of our culture.

We're all subject to the daily pressures of consumer persuasion.

In numerous years following the war, the Federal Government ran a heavy surplus. It could not (however) pay off its debt, retire its securities, because to do so meant there would be no bonds to back the national bank notes. To pay off the debt was to destroy the money supply.

If there must be madness, something may be said for having it on a heroic scale

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.