I think the role of the Federal Reserve is enormously exaggerated.

I was brought up in southwestern Ontario where we were taught that Canadian patriotism should not withstand anything more than a five-dollar-a-month wage differential. Anything more than that and you went to Detroit.

All crises have involved debt that, in one fashion or another, has become dangerously out of scale in relation to the underlying means of payment.

A very complicated mass of things influences the economy - the speculative effect, government policy, consumer borrowing and spending, the level of technical innovation (which I concede, although everyone emphasizes it too much), and much more - including, of course, the rate of inflation.

Change comes not from men and women changing their minds, but from the change from one generation to the next.

Total physical and mental inertia are highly agreeable, much more so than we allow ourselves to imagine. A beach not only permits such inertia but enforces it, thus neatly eliminating all problems of guilt. It is now the only place in our overly active world that does.

Under capitalism, man exploits man. Under communism, it's just the opposite.