It is almost as important to know what is not serious as to know what is.

I've been a faithful reader of the great classical documents of economics, or tried to be. The first book in the field that I ever read was Principles of Economics by Alfred Marshall. I suppose subsequently I would have to pick out Keynes, Adam Smith, Marx.

The attraction of power we take for granted in politics.. But in economics...the thrust...is for pecuniary return, for money. And I have always felt that denies in the economic world a very large part of the motivation.

Men have been swindled by other men on many occasions. The autumn of 1929 was, perhaps, the first occasion when men succeeded on a large scale in swindling themselves.

One of the little-celebrated powers of Presidents (and other high government officials) is to listen to their critics with just enough sympathy to ensure their silence.

A more important antidote to American democracy is American gerontocracy. The positions of eminence and authority in Congress are allotted in accordance with length of service, regardless of quality.

The conspicuously wealthy turn up urging the character building values of the privation of the poor.