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.

The notion that you would initiate a new product without preparing the way by persuasion and advertising and salesmanship is fantastic. It's an integral part of the system.

People are the common denominator of progress; no improvement is possible with unimproved people.

From the fact of general well-being came the new position of the poor. They were now in most communities a minority. The voice of the people was now the voice of relative affluence. Politicians in pursuit of votes could be expected to have a diminishing concern for the very poor. Compassion would have to serve instead - an uncertain substitute.

Genius is a rising stock market.

The greater the wealth the thicker will be the dirt.

Liberalism is, I think, resurgent. One reason is that more and more people are so painfully aware of the alternative.