Practical men who believe themselves to be quite exempt from any intellectual influence, are usually the slaves of some defunct economist. Madmen in authority, who hear voices in the air, are distilling their frenzy from some academic scribbler of a few years back

Experience shows that what happens is always the thing against which one has not made provision in advance.

One blames politicians, not for inconsistency but for obstinacy. They are the interpreters, not the masters, of our fate. It is their job, in fact, to register the fact accompli.

By a continuing process of inflation, government can confiscate, secretly and unobserved, an important part of the wealth of their citizens.

... a speculator is one who runs risks of which he is aware and an investor is one who runs risks of which he is unaware.

The immense accumulations of fixed capital which, to the great benefit of mankind, were built up during the half century before the war, could never have come about in a Society where wealth was divided equitably.

Chess is a cure for headaches.