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

There is an old saying, or should be, that it is a wise economist who recognizes the scope of his own generalizations.

Preservationists are the only people in the world who are invariably confirmed in their wisdom after the fact.

The commencement speech is not, I think, a wholly satisfactory manifestation of our culture.

Faced with having to change our views or prove that there is no need to do so, most of us immediately get busy on the proof.

It was not hard to persuade people that the market was sound; as always in such times they asked only that the dispiriting voices of doubt be muted and that there should be tolerably frequent expressions of confidence.

In the United States, though power corrupts, the expectation of power paralyzes.