Washington is a place where men praise courage and act on elaborate personal cost-benefit calculations.

The individual serves the planning system not by supplying it with savings and the resulting capital; he serves it far more by consuming its products.

In the United States, though power corrupts, the expectation of power paralyzes.

Good writing, and this is especially important in a subject such as economics, must also involve the reader in the matter at hand. It is not enough to explain. The images that are in the mind of the writer must be made to reappear in the mind of the reader, and it is the absence of this ability that causes much economic writing to be condemned, quite properly, as abstract.

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

If you feed enough oats to the horse, some will pass through to feed the sparrows (referring to "trickle down" economics).

Authorship of any sort is a fantastic indulgence of the ego.