Capitalism is chronically unstable.Boom and bust has always marked capitalism in the United States. There were panics in 1785, 1791, 1819, 1857, 1869, 1873, 1907, 1929 and 1987.In economies and politics, as in war, an astonishing number of people die, like the man on the railway crossing, defending their right of way. This is a poorly developed instinct in Switzerland. No country so firmly avows the principles of private enterprise but in few have the practical concessions to socialism been more numerous and varied.

People are the common denominator of progress; no improvement is possible with unimproved people.

Where humor is concerned there are no standards - no one can say what is good or bad, although you can be sure that everyone will.

Washington is a place where men praise courage and act on elaborate personal cost-benefit calculations.

No nice philosophical point has ever been so decisively resolved as this: that those who are not conceived do not miss the pleasure of consuming the goods they do not get born to enjoy.

The modern corporation must manufacture not only goods but the desire for the goods it manufactures.

And there was a deeper, less visible effect of the Truman loyalty program. Seeing its consequences for certain individuals and fearing its intrusion on their own lives, many in the government sought protection by strongly asserting their anti-Communism. In the public action that ensued, policy was based not on reality but, instinctively or deliberately, on personal caution...Those who urged a militant and sometimes military anti-Communism were considered sound, trustworthy and personally safe; those who questioned such a course were politically unsafe, possible even slightly disloyal.