There's no question that in my lifetime, the contrast between what I called private affluence and public squalor has become very much greater.

When you see reference to a new paradigm you should always, under all circumstances, take cover.

Economics is a subject profoundly conducive to cliche, resonant with boredom. On few topics is an American audience so practiced in turning off its ears and minds. And none can say that the response is ill advised.

Things that come from the private sector are in abundant supply; things that depend on the public sector are widely a problem. We're a world, as I said in The Affluent Society, of filthy streets and clean houses, poor schools and expensive television.

The notion that you would initiate a new product without preparing the way by persuasion and advertising and salesmanship is fantastic. It's an integral part of the system.

Economics is extremely useful as a form of employment for economists.

The conspicuously wealthy turn up urging the character building values of the privation of the poor.