The inborn instability of capitalism has been part of the history of the system for several hundred years, including recurrent speculative episodes. There should be no doubt in anyone's mind that we're now having another one of those speculative episodes.

A bad book is the worse that it cannot repent. It has not been the devil's policy to keep the masses of mankind in ignorance; but finding that they will read, he is doing all in his power to poison their books.

Money differs from an automobile or mistress in being equally important to those who have it and those who do not.

A nuclear war does not defend a country and it does not defend a system. I've put it the same way many times; not even the most accomplished ideologue will be able to tell the difference between the ashes of capitalism and the ashes of communism.

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.

Economists are economical, among other things, of ideas; most make those of their graduate days do for a lifetime.

When people are least sure, they are often most dogmatic.