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.

It has been the acknowledged right of every Marxist scholar to read into Marx the particular meaning that he himself prefers and to treat all others with indignation.

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.

There are days when the result is so bad that no fewer than five revisions are required. In contrast, when I'm greatly inspired, only four revisions are needed.

If there must be madness, something may be said for having it on a heroic scale

Increasingly in recent times we have come first to identify the remedy that is most agreeable, most convenient, most in accord with major pecuniary or political interest, the one that reflects our available faculty for action; then we move from the remedy so available or desired back to a cause to which that remedy is relevant.

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