The world of finance hails the invention of the wheel over and over again, often in a slightly more unstable version.

To see economic policy as a problem of choice between rival ideologies is the greatest error of our time.

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.

It's much easier to point out the problem than it is to say just how it should be solved.

You will find that [the] State [Department] is the kind of organisation which, though it does big things badly, does small things badly too.

Every corner of the public psyche is canvassed by some of the most talented citizens to see if the desire for some merchandisable product can be cultivated.

The conventional view serves to protect us from the painful job of thinking.