The experience of being disastrously wrong is salutary, no economist should be denied it, and not many are.

Wealth, in even the most improbable cases, manages to convey the aspect of intelligence.

In the usual (though certainly not in every) public decision on economic policy, the choice is between courses that are almost equally good or equally bad. It is the narrowest decisions that are most ardently debated.

No hungry man who is also sober can be persuaded to use his last dollar for anything but food.

The Metropolis should have been aborted long before it became New York, London or Tokyo.

There are times in politics when you must be on the right side and lose.

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