The enemy of the conventional wisdom is not ideas but the march of events.

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

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.

The more underdeveloped the country, the more overdeveloped the women.

It is a commonplace of modern technology that problems have solutions before there is knowledge of how they are to be solved.

I am worried about our tendency to over invest in things and under invest in people.

Those days [of the Vietnam War] you couldn't get on a bus going to the South without expecting a riot over something or the other. All of that has disappeared thanks to Lyndon Johnson.