In public administration good sense would seem to require that public expectation be kept at the lowest possible level in order to minimize eventual disappointment.

Power is not something that can be assumed or discarded at will like underwear.

In economics it is a far, far wiser thing to be right than to be consistent

The world of finance hails the invention of the wheel over and over again, often in a slightly more unstable version.

Of all classes the rich are the most noticed and the least studied.

In the usual (though certainly not in every) public decision on economic policy, the choice is between courses that are almost equally good or equally bad. It is the narrowest decisions that are most ardently debated.

There is certainly no absolute standard of beauty. That precisely is what makes its pursuit so interesting.