Economics is a very dangerous science.

The right remedy for the trade cycle is not to be found in abolishing booms and thus keeping us permanently in a semi-slump; but in abolishing slumps and thus keeping us permanently in a quasi-boom.

It is not the ownership of the instruments of production which it is important for the State to assume. If the State is able to determine the aggregate amount of resources devoted to augmenting the instruments and the basic rate of reward to those who own them, it will have accomplished all that is necessary. Moreover, the necessary measures of socialization can be introduced gradually and without a break in the general traditions of society.

To suggest social action for the public good to the city London is like discussing The Origin of Species to a Bishop sixty years ago.

Education: the inculcation of the incomprehensible into the indifferent by the incompetent.

Capitalism is the extraordinary belief that the nastiest of men, for the nastiest of reasons, will somehow work for the benefit of us all.

It is the duty of the long-term investor to endure great losses with equanimity.