The individual serves the planning system not by supplying it with savings and the resulting capital; he serves it far more by consuming its products.

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.

Nothing so weakens government as persistent inflation.

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

There are times in politics when you must be on the right side and lose.

I write with two things in mind. I want to be right with my fellow economists. After all, I've made my life as a professional economist, so I'm careful that my economics is as it should be. But I have long felt that there's no economic proposition that can't be stated in clear, accessible language. So I try to be right with my fellow economists, but I try to have an audience of any interested, intelligent person.

I'm certainly going to support Al Gore because, on the whole, he's the more sensible figure and you vote not for the perfect but for the best. Coupled with that is a special situation.