I was brought up in southwestern Ontario where we were taught that Canadian patriotism should not withstand anything more than a five-dollar-a-month wage differential. Anything more than that and you went to Detroit.

People of privilege will always risk their complete destruction rather than surrender any material part of their advantage.

Those who had been riding the upward wave decide now is the time to get out. Those who thought the increase would be forever find their illusion destroyed abruptly, and they, also, respond to the newly revealed reality by selling or trying to sell. And thus the rule, supported by the experience of centuries: the speculative episode always ends not with a whimper but with a bang.

My rule on honorary degrees has always been to have one more than Arthur Schlesinger Jr.

There is an enormous thrust in our time to have a simple answer. And that simple answer is that all depends on Alan Greenspan and the Federal Reserve. And Alan, who is an old acquaintance of mine, is a marvelous performer in the impression he gives of enormously great perception.

The problem of the modern economy is not a failure of a knowledge of economics; it's a failure of a knowledge of history.

If you feed enough oats to the horse, some will pass through to feed the sparrows (referring to "trickle down" economics).