I was in charge of price controls in World War II and had a ceiling on overall prices. Everybody who was subject to general maximum price regulation wanted an exception and went to Congress to persuade a Congressman, or a group of people on the Hill, that I was being a menace to their industry.

Those who had been riding the upward wave decide now is the time to get out. Those who thought the increase would be forever find their illusion destroyed abruptly, and they, also, respond to the newly revealed reality by selling or trying to sell. And thus the rule, supported by the experience of centuries: the speculative episode always ends not with a whimper but with a bang.

The inborn instability of capitalism has been part of the history of the system for several hundred years.

One of the best ways of avoiding necessary and even urgent tasks is to seem to be busily employed on things that are already done.

Franklin Delano Roosevelt and J.F Kennedy were Presidents in very different times.

We can safely abandon the doctrine of the eighties, namely that the rich were not working because they had too little money, the poor because they had much.

In any great organization it is far, far safer to be wrong with the majority than to be right alone.