If people are hungry, ill-clad, unsheltered or diseased, nothing is so important as to remedy their condition.

[The] men of the technostructure are the new and universal priesthood. Their religion is business success; their test of virtue is growth and profit. Their bible is the computer printout; their communion bench is the committee room.

There's no question that in my lifetime, the contrast between what I called private affluence and public squalor has become very much greater.

We can safely abandon the doctrine of the eighties, namely that the rich were not working because they had too little money, the poor because they had much.

The stock market is but a mirror which provides an image of the underlying or fundamental economic situation. Cause and effect run from the economy to the stock market, never the reverse. In 1929 the economy was headed for trouble. Eventually that trouble was violently reflected in Wall Street.

Inflation does not lubricate trade but by rescuing traders from their errors of optimism or stupidity.

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