Long run is a misleading guide to current affairs. In the long run we are all dead.

Nothing can preserve the integrity of contact between individuals, except a discretionary authority in the state to revise what has become intolerable. The powers of uninterrupted usury are too great. If the accretions of vested interests were to grow without mitigation for many generations, half the population would be no better than slaves to the other half.

Morally and philosophically I find myself in agreement with virtually the whole of it: and not only in agreement with it, but in deeply moved agreement.

If you owe your bank a hundred pounds, you have a problem. But if you owe a million, it has.

Long run is a misleading guide to current affairs. In the long run we are all dead.

In this autumn of 1919, in which I write, we are at the dead season of our fortunes.

Speculators may do no harm as bubbles on a steady stream of enterprise. But the position is serious when enterprise becomes a bubble on a whirlpool of speculation. When the capital development of a country becomes a by-product of the activities of a casino, the job is likely to be ill done.