In the old days, land was important as the giver of all things. That period is gone now. Technology and brainpower are all that matters and yet conflicts over land, specially one like on the India-China border, that yields nothing, continue. This is a burden of ancient history that we continue to carry. If tomorrow there is settlement on planet Mars, we will begin to worry if others are interested.

The process by which banks create money is so simple that the mind is repelled.

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.

Economics is a subject profoundly conducive to cliche, resonant with boredom. On few topics is an American audience so practiced in turning off its ears and minds. And none can say that the response is ill advised.

Economists, on the whole, think well of what they do themselves and much less well of what their professional colleagues do.

Partly, the Russian system succeeds because, in contrast to the Western industrial economies, it makes full use of its manpower.

Technology, under all circumstances, leads to planning; in its higher manifestations it may put the problems of planning beyond the reach of the industrial firm. Technological compulsions, and not ideology or political will, will require the firm to seek the help and protection of the state.