When everything else failed, we can still become immortal by making an enormous blunder.

There can be few fields of human endeavor in which history counts for so little as in the world of finance.Past experience, to the extent that it is part of memory at all, is dismissed as the primitive refuge of the those who do not have insight to appreciate the incredible wonders of the present.

There are few ironclad rules of diplomacy but to one there is no exception. When an official reports that talks were useful, it can safely be concluded that nothing was accomplished.

Capitalism is chronically unstable.Boom and bust has always marked capitalism in the United States. There were panics in 1785, 1791, 1819, 1857, 1869, 1873, 1907, 1929 and 1987.In economies and politics, as in war, an astonishing number of people die, like the man on the railway crossing, defending their right of way. This is a poorly developed instinct in Switzerland. No country so firmly avows the principles of private enterprise but in few have the practical concessions to socialism been more numerous and varied.

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

The commencement speech is not, I think, a wholly satisfactory manifestation of our culture.

Partly, the Russian system succeeds because, in contrast to the Western industrial economies, it makes full use of its manpower.