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.

I was in charge of price controls in World War II and had a ceiling on overall prices. Everybody who was subject to general maximum price regulation wanted an exception and went to Congress to persuade a Congressman, or a group of people on the Hill, that I was being a menace to their industry.

Nothing so weakens government as persistent inflation.

There are few ironclad rules of diplomacy but to one there is no exception. When an official reports that talks were useful, it can safely be concluded that nothing was accomplished.

It is my guiding confession that I believe the greatest error in economics is in seeing the economy as a stable, immutable structure.

Where humor is concerned there are no standards - no one can say what is good or bad, although you can be sure that everyone will.

A person buying ordinary products in a supermarket is in touch with his deepest emotions.