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

Worldly wisdom teaches that it is better for reputation to fail conventionally than to succeed unconventionally.

It is preferable to regard labour, including, of course, the personal services of the entrepreneur, and his assistants, as the sole factor of production, operating in a given environment of technique, natural resources, capital equipment and effective demand. This is why we have been able to take labour as the sole physical unit which we require in our economic system, apart from units of money and of time.

Newton was not the first of the age of reason, he was the last of the magicians.

I think that Capitalism, wisely managed, can probably be made more efficient for attaining economic ends than any alternative system yet in sight, but that in itself is in many ways extremely objectionable.

There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency.

When the final result is expected to be a compromise, it is often prudent to start from an extreme position.