If we consistently act on the optimistic hypothesis, this hypothesis will tend to be realised; whilst by acting on the pessimistic hypothesis we can keep ourselves for ever in the pit of want.

I should have drunk more Champagne.

To suggest social action for the public good to the city London is like discussing The Origin of Species to a Bishop sixty years ago.

Thus, the weight of my criticism is directed against the inadequacy of the theoretical foundations of the laissez-faire doctrine upon which I was brought up and for many years I taught

It is astonishing what foolish things one can temporarily believe if one thinks too long alone, particularly in economics.

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

I find myself more and more relying for a solution of our problems on the invisible hand which I tried to eject from economic thinking twenty years ago.