World War II revealed two of the enduring features of the Keynesian Revolution. One was the moral difference between spending for welfare and spending for war. During the Depression very modest outlays for the unemployed seemed socially debilitating, economically unsound. Now expenditures many times greater for weapons and soldiers were perfectly safe. It's a difference that still persists.

Talk of revolution is one of avoiding reality.

In the conventional wisdom of conservatives, the modern search for security is regularly billed as the greatest single threat to economic progress.

The oldest [John Kenneth] Galbraith rule is that when you hear that a new era has dawned, you should take cover.

By all but the pathologically romantic, it is now recognized that this is not the age of the small man.

There is a common tendency to ignore the poor or to develop some rationalisation for the good fortune of the fortunate.

From the spring of 1941, I controlled all prices in the United States. You could lower a price without my permission, but you couldn't raise a price without my permission or that of my staff.