I wish I'd drunk more champagne.

The difficulty lies, not in the new ideas, but in escaping the old ones, which ramify, for those brought up as most of us have been, into every corner of our minds.

Of the maxims of orthodox finance none, surely, is more anti-social than the fetish of liquidity, the doctrine of that it is a positive virtue on the part of investment institutions to concentrate their resources upon the holding of 'liquid' securities. It forgets that there is no such thing as liquidity of investment for the community as a whole.

The political problem of mankind is to combine three things: economic efficiency, social justice and individual liberty.

There is nothing so disastrous as a rational investment policy in an irrational world.

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

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.