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.

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.

No solution [to the problem of poverty] is so effective as providing income to the poor. Whether in the form of food, housing, health services, education or money, income is an excellent antidote for deprivation. No truth has spawned so much ingenious evasion.

Money is what fueled the industrial society. But in the informational society, the fuel, the power, is knowledge. One has now come to see a new class structure divided by those who have information and those who must function out of ignorance. This new class has its power not from money, not from land, but from knowledge.

The oldest [John Kenneth] Galbraith rule is that when you hear that a new era has dawned, you should take cover.

No nice philosophical point has ever been so decisively resolved as this: that those who are not conceived do not miss the pleasure of consuming the goods they do not get born to enjoy.

Monetary policy suffers from the unfortunate absence of any occult effect. It has long been clear that economic management...would be greatly facilitated if resort could occasionally be had to witchcraft.