In all modern depressions, recessions, or growth-correction, as variously they are called, we never miss the goods that are not produced. We miss only the opportunities for the labour - for the jobs - that are not provided.

Every corner of the public psyche is canvassed by some of the most talented citizens to see if the desire for some merchandisable product can be cultivated.

We all agree that pessimism is a mark of superior intellect.

The income men derive from producing things of slight consequence is of great consequence. The production reflects the low marginal utility of the goods to society. The income reflects the high total utility of a livelihood to a person.

Milton Friedman’s misfortune is that his economic policies have been tried.

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] men of the technostructure are the new and universal priesthood. Their religion is business success; their test of virtue is growth and profit. Their bible is the computer printout; their communion bench is the committee room.