Unlike physics, for example, such parts of the bare bones of economic theory as are expressible in mathematical form are extremely easy compared with the economic interpretation of the complex and incompletely known facts of experience, and lead one a very little way towards establishing useful results.

The power to become habituated to his surroundings is a marked characteristic of mankind.

Americans are apt to be unduly interested in discovering what average opinion believes average opinion to be.

When my information changes, I alter my conclusions. What do you do, sir?

Most, probably, of our decisions to do something positive, the full consequences of which will be drawn out over many days to come, can only be taken as the result of animal spirits-a spontaneous urge to action rather than inaction, and not as the outcome of a weighted average of quantitative benefits multiplied by quantitative probabilities.

The love of money as a possession...will be recognised for what it is, a somewhat disgusting morbidity.

It's not bringing in the new ideas that's so hard; it's getting rid of the old ones.