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

If you owe your bank a hundred pounds, you have a problem. But if you owe a million, it has.

They offer me neither food nor drink - intellectual nor spiritual consolation... [Conservatism] leads nowhere; it satisfies no ideal; it conforms to no intellectual standard, it is not safe, or calculated to preserve from the spoilers that degree of civilization which we have already attained.

I expect to see the State, which is in a position to calculate the marginal efficiency of capital-goods on long views and on the basis of the general social advantage, taking an ever greater responsibility for directly organizing investments.

Gold is a relic from a time when government's were less trustworthy in these matters (currency debasement) than they are now.

It is investment, i.e. the increased production of material wealth in the shape of capital goods, which alone increases national wealth.

I can't remember my telephone number, but I know it was in the high numbers.