Everything is always decided for reasons other than the real merits of the case

It would not be foolish to contemplate the possibility of a far greater progress still.

When the accumulation of wealth is no longer of high social importance, there will be great changes in the code of morals.

I find myself more and more relying for a solution of our problems on the invisible hand which I tried to eject from economic thinking twenty years ago.

If we consistently act on the optimistic hypothesis, this hypothesis will tend to be realised; whilst by acting on the pessimistic hypothesis we can keep ourselves for ever in the pit of want.

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.

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