All successful revolutions are the kicking in of a rotten door.

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.

Few can believe that suffering, especially by others, is in vain. Anything that is disagreeable must surely have beneficial economic effects.

It is a far, far better thing to have a firm anchor in nonsense than to put out on the troubled seas of thought.

But now, as throughout history, financial capacity and political perspicacity are inversely correlated.

Wealth is not without its advantages and the case to the contrary, although it has often been made, has never proved widely persuasive.

If you're rich you can buy books. If you're poor, you need a library.