Emancipation of belief is the most formidable of the tasks of reform and the one on which all else depends.

In Europe and the United States the two decades following the Second World War will for long be remembered as a very good time, the time when capitalism really worked. Everywhere in the industrialized countries production increased. Unemployment was everywhere low. Prices were nearly stable. When production lagged and unemployment rose, governments intervened to take up the slack, as Keynes had urged.

I feel very angry when I think of brilliant, or even interesting, women whose minds are wasted on a home. Better have an affair. It isn't permanent and you keep your job.

All successful revolutions are the kicking in of a rotten door. The violence of revolutions is the violence of men who charge into a vacuum.

Economists, on the whole, think well of what they do themselves and much less well of what their professional colleagues do.

Mr. David Stockman has said that supply-side economics was merely a cover for the trickle-down approach to economic policy — what an older and less elegant generation called the horse-and-sparrow theory: If you feed the horse enough oats, some will pass through to the road for the sparrows.

The seminar in economic theory conducted by Hayek at the L.S.E. in the 1930s was attended, it came to seem, by all of the economists of my generation - Nicky Kaldor , Thomas Balogh, L. K. Jah, Paul Rosenstein-Rodan, the list could be indefinitely extended. The urge to participate (and correct Hayek) was ruthlessly competitive.