Genius is a rising stock market.

Nostalgia combines regularly with manifest respectability to give credence to old error as opposed to new truth.

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

The power of the corporate bureaucracy - the power of technostructure (a term that did not take off) - is something to which I still adhere.

It's great to be with William Buckley, because you don't have to think. He takes a position and you automatically take the opposite one and you know you're right.

Those who had been riding the upward wave decide now is the time to get out. Those who thought the increase would be forever find their illusion destroyed abruptly, and they, also, respond to the newly revealed reality by selling or trying to sell. And thus the rule, supported by the experience of centuries: the speculative episode always ends not with a whimper but with a bang.

The study of money, above all other fields in economics, is one in which complexity is used to disguise truth or to evade truth, not to reveal it. The process by which banks create money is so simple the mind is repelled.