Wisdom... is often an abstraction associated not with fact or reality but with the man who asserts it and the manner of its assertion.

A point must be repeated: only the pathological weakness of the financial memory...allows us to believe that the modern experience of....debt...is in any way a new phenomenon.

The drive toward complex technical achievement offers a clue to why the U.S. is good at space gadgetry and bad at slum problems.

If it is dangerous to suppose that government is always right, it will sooner or later be awkward for public administration if most people suppose that it is always wrong.

I've been a faithful reader of the great classical documents of economics, or tried to be.

Foreign policy is conducted for the convenience and enjoyment of people in Washington.

We talk of the enormous virtues of work, but it turns out that that is mostly for the poor. If you're rich enough or if you're a college professor, the virtue lies in leisure and the use you make of your leisure time.