It was not hard to persuade people that the market was sound; as always in such times they asked only that the dispiriting voices of doubt be muted and that there should be tolerably frequent expressions of confidence.

Wealth, in even the most improbable cases, manages to convey the aspect of intelligence.

Wealth is not without its advantages and the case to the contrary, although it has often been made, has never proved widely persuasive.

She is a reflection of comfortable middle-class values that do not take seriously the continuing unemployment. What I particularly regret is that she does not take seriously the intellectual decline. Having given up the Empire and the mass production of industrial goods, Britain's future lay in its scientific and artistic pre-eminence. Mrs Thatcher will be long remembered for the damage she has done.

All crises have involved debt that, in one fashion or another, has become dangerously out of scale in relation to the underlying means of payment.

In numerous years following the war, the Federal Government ran a heavy surplus. It could not (however) pay off its debt, retire its securities, because to do so meant there would be no bonds to back the national bank notes. To pay off the debt was to destroy the money supply.

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.