There are two kinds of forecasters: those who don’t know, and those who don’t know they don’t know.

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.

There are times in politics when you must be on the right side and lose.

No nice philosophical point has ever been so decisively resolved as this: that those who are not conceived do not miss the pleasure of consuming the goods they do not get born to enjoy.

No intelligence system can predict what a government will do if it doesn't know itself.

Economics is a subject profoundly conducive to cliche, resonant with boredom. On few topics is an American audience so practiced in turning off its ears and minds. And none can say that the response is ill advised.

Preservationists are the only people in the world who are invariably confirmed in their wisdom after the fact.