Banking may well be a career from which no man really recovers.

People are the common denominator of progress. So no improvement is possible with unimproved people, and advance is certain when people are liberated and educated. It would be wrong to dismiss the importance of roads, railroads, power plants, mills,and the other familiar furniture of economic development. But we are coming to realize that there is a certain sterility in economic monuments that stand alone in a sea of illiteracy. Conquest of illiteracy comes first.

Nothing is so admirable in politics as a short memory.

Economists are economical, among other things, of ideas; most make those of their graduate days do for a lifetime.

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.

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

I am for a close global association in trade and financial matters, rather than the opposite possibility of excessive nationalism, as manifested in the two world wars.