Money differs from an automobile or mistress in being equally important to those who have it and those who do not.

If all else fails immortality can always be assured by adequate error.

Nothing is so admirable in politics as a short memory.

The experience of being disastrously wrong is salutary, no economist should be denied it, and not many are.

It is my guiding confession that I believe the greatest error in economics is in seeing the economy as a stable, immutable structure.

From the fact of general well-being came the new position of the poor. They were now in most communities a minority. The voice of the people was now the voice of relative affluence. Politicians in pursuit of votes could be expected to have a diminishing concern for the very poor. Compassion would have to serve instead - an uncertain substitute.

The years of the Great Depression were a superb time for economists because people not knowing what could be done or what should be done would always assume that maybe an economist had the answer. If you were just a lawyer in Washington, you were nobody. But if you were an economist, you might have the answer.