By all but the pathologically romantic, it is now recognized that this is not the age of the small man.

Liberalism is, I think, resurgent. One reason is that more and more people are so painfully aware of the alternative.

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

Inflation does not lubricate trade but by rescuing traders from their errors of optimism or stupidity.

There is something wonderful in seeing a wrong-headed majority assailed by truth.

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

From the fact of general well-being came the new position of the poor. They were now in most communities a minority. The voice of the people was now the voice of relative affluence. Politicians in pursuit of votes could be expected to have a diminishing concern for the very poor. Compassion would have to serve instead - an uncertain substitute.