The complaints of the privileged are too often confused with the voice of the masses.

One of the best ways of avoiding necessary and even urgent tasks is to seem to be busily employed on things that are already done.

In the autumn of 1929 the mightiest of Americans were, for a brief time, revealed as human beings.

In economics, hope and faith coexist with great scientific pretension and also a deep desire for respectability.

Nothing so weakens government as persistent inflation.

When you see reference to a new paradigm you should always, under all circumstances, take cover.

The oldest problem in economic education is how to exclude the incompetent. A certain glib mastery of verbiage-the ability to speak portentously and sententiously about the relation of money supply to the price level-is easy for the unlearned and may even be aided by a mildly enfeebled intellect. The requirement that there be ability to master difficult models, including ones for which mathematical competence is required, is a highly useful screening device.