Investment based on genuine long-term expectations is so difficult today as to be scarcely practicable.

Ideas shape the course of history.

The ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is generally understood. Indeed, the world is ruled by little else.

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.

By this means (fractional reserve banking) government may secretly and unobserved, confiscate the wealth of the people, and not one man in a million will detect the theft.

The love of money as a possession-as distinguished from the love of money as a means to the enjoyments and realities of life-will be recognized for what it is, a somewhat disgusting morbidity, one of those semi-criminal, semi-pathological propensities which one hands over with a shudder to the specialists in mental disease

What an extraordinary episode in the economic progress of man that age was which came to an end in August, 1914!