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.

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.

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.

Meetings are indispensable when you don't want to do anything.

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.

From the spring of 1941, I controlled all prices in the United States. You could lower a price without my permission, but you couldn't raise a price without my permission or that of my staff.

And there was a deeper, less visible effect of the Truman loyalty program. Seeing its consequences for certain individuals and fearing its intrusion on their own lives, many in the government sought protection by strongly asserting their anti-Communism. In the public action that ensued, policy was based not on reality but, instinctively or deliberately, on personal caution...Those who urged a militant and sometimes military anti-Communism were considered sound, trustworthy and personally safe; those who questioned such a course were politically unsafe, possible even slightly disloyal.