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

Money is a singular thing. It ranks with love as man's greatest source of joy. And with death as his greatest source of anxiety. Over all history it has oppressed nearly all people in one of two ways: either it has been abundant and very unreliable, or reliable and very scarce.

A very complicated mass of things influences the economy - the speculative effect, government policy, consumer borrowing and spending, the level of technical innovation (which I concede, although everyone emphasizes it too much), and much more - including, of course, the rate of inflation.

All successful revolutions are the kicking in of a rotten door.

It was Herbert Spencer, not Charles Darwin, who coined the phrase Survival of the Fittest.

Economics is extremely useful as a form of employment for economists.

The sense of responsibility in the financial community for the community as a whole is not small. It is nearly nil.