God has arrived. I met him on the 5:15 train.

For my own part, I believe that there is social and psychological justification for significant inequalities of incomes and wealth.

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

Nevertheless, if we contemplate a society with a somewhat stable wage-unit, with national characteristics which determine the propensity to consume and the preference for liquidity, and with a monetary system which rigidly links the quantity of money to the stock of the precious metals, it will be essential for the maintenance of prosperity that the authorities should pay close attention to the state of the balance of trade. For a favourable balance, provided it is not too large, will prove extremely stimulating; whilst an unfavourable balance may soon produce a state of persistent depression.

Economics is a very dangerous science.

[T]he theory of output as a whole, which is what the following book purports to provide, is much more easily adapted to the conditions of a totalitarian state, than is the theory of production and distribution of a given output produced under the conditions of free competition and a large measure of laissez-faire.

Words ought to be a little wild, for they are the assault of thoughts on the unthinking.