The power to become habituated to his surroundings and therefore to no longer be grateful for what is good in it is a marked characteristic of mankind and needs to be fought against if a person is to be happy.

It's not bringing in the new ideas that's so hard; it's getting rid of the old ones.

The boom, not the slump, is the right time for austerity at the Treasury.

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

Lenin is said to have declared that the best way to destroy the Capitalist System was to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. By this method they not only confiscate, but they confiscate arbitrarily; and, while the process impoverishes many, it actually enriches some. The sight of this arbitrary rearrangement of riches strikes not only at security, but at confidence in the equity of the existing distribution of wealth.

This long run is a misleading guide to current affairs. In the long run we are all dead. Economists set themselves too easy, too useless a task if in tempestuous seasons they can only tell us that when the storm is long past the ocean is flat again.

Well, when I get new information, I rethink my position. What, sir, do you do with new information?