A person buying ordinary products in a supermarket is in touch with his deepest emotions.

Those days [of the Vietnam War] you couldn't get on a bus going to the South without expecting a riot over something or the other. All of that has disappeared thanks to Lyndon Johnson.

Washington is a place where men praise courage and act on elaborate personal cost-benefit calculations.

There are days when the result is so bad that no fewer than five revisions are required. In contrast, when I'm greatly inspired, only four revisions are needed.

The oldest problem in economic education is how to exclude the incompetent. A certain glib mastery of verbiage-the ability to speak portentously and sententiously about the relation of money supply to the price level-is easy for the unlearned and may even be aided by a mildly enfeebled intellect. The requirement that there be ability to master difficult models, including ones for which mathematical competence is required, is a highly useful screening device.

Ralph [ Nader] is an old friend of mine, and he does a useful job in displaying a position.

People are the common denominator of progress; no improvement is possible with unimproved people.