In the market economy the price that is offered is counted upon to produce the result that is sought.

The real accomplishment of modern science and technology consists in taking ordinary men, informing them narrowly and deeply and then, through appropriate organization, arranging to have their knowledge combined with that of other specialized but equally ordinary men. This dispenses with the need for genius. The resulting performance, though less inspiring, is far more predictable.

The world of finance hails the invention of the wheel over and over again, often in a slightly more unstable version.

Emancipation of belief is the most formidable of the tasks of reform and the one on which all else depends.

Total physical and mental inertia are highly agreeable, much more so than we allow ourselves to imagine. A beach not only permits such inertia but enforces it, thus neatly eliminating all problems of guilt. It is now the only place in our overly active world that does.

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

In central banking as in diplomacy, style, conservative tailoring, and an easy association with the affluent count greatly and results far much less.