The stock market is but a mirror which provides an image of the underlying or fundamental economic situation. Cause and effect run from the economy to the stock market, never the reverse. In 1929 the economy was headed for trouble. Eventually that trouble was violently reflected in Wall Street.

The power of the corporate bureaucracy - the power of technostructure (a term that did not take off) - is something to which I still adhere.

Man, at least when educated, is a pessimist. He believes it safer not to reflect on his achievements; Jove is known to strike such people down.

The stock market is but a mirror which provides an image of the underlying or fundamental economic situation. Cause and effect run from the economy to the stock market, never the reverse. In 1929 the economy was headed for trouble. Eventually that trouble was violently reflected in Wall Street.

The ideas by which people . . . interpret their existence and in measure guide their behavior, were not forged in a world of wealth.

Ideas are inherently conservative. They yield not to the attack of other ideas but to the massive onslaught of circumstance with which they cannot contend.

The great dialectic in our time is not, as anciently and by some still supposed, between capital and labor; it is between economic enterprise and the state.