Inventions that are not made, like babies that are not born, are rarely missed. In the absence of new developments, old ones may seem very impressive for quite a long while.

The stock market is but a mirror which provides an image of the underlying or fundamental economic situation. Cause and effect run from the economy to the stock market, never the reverse. In 1929 the economy was headed for trouble. Eventually that trouble was violently reflected in Wall Street.

What is called a high standard of living consists, in considerable measure, in arrangements for avoiding muscular energy, for increasing sensual pleasure and enhancing caloric intake above any conceivable nutritional requirement.

To see economic policy as a problem of choice between rival ideologies is the greatest error of our time.

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

More die in the United States of too much food than of too little.

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.