Nostalgia combines regularly with manifest respectability to give credence to old error as opposed to new truth.

Almost every aspect of its (Federal Reserve) history should be approached with a discriminating disregard for what is commonly taught or believed.

Nothing is so admirable in politics as a short memory.

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

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

A bad book is the worse that it cannot repent. It has not been the devil's policy to keep the masses of mankind in ignorance; but finding that they will read, he is doing all in his power to poison their books.

Financial operations do not lend themselves to innovation. What is recurrently so described and celebrated is, without exception, a small variation on an established design . . . The world of finance hails the invention of the wheel over and over again, often in a slightly more unstable version.