I've been a faithful reader of the great classical documents of economics, or tried to be. The first book in the field that I ever read was Principles of Economics by Alfred Marshall. I suppose subsequently I would have to pick out Keynes, Adam Smith, Marx.

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

In all life one should comfort the afflicted, but verily, also, one should afflict the comfortable, and especially when they are comfortably, contentedly, even happily wrong.

Perhaps never before or since have so many people taken the measure of economic prospects and found them so favorable as in the two days following the Thursday [24th October 1929] disaster.

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

Mr. David Stockman has said that supply-side economics was merely a cover for the trickle-down approach to economic policy — what an older and less elegant generation called the horse-and-sparrow theory: If you feed the horse enough oats, some will pass through to the road for the sparrows.

To see economic policy as a problem of choice between rival ideologies is the greatest error of our time.