Whenever you save five shillings you put a man out of work for a day.

Businessmen have a different set of delusions from politicians; and need, therefore, different handling. They are, however, much milder than politicians, at the same time allured and terrified by the glare of publicity....You could do anything you like with them, if you would treat them (even the big ones) not as wolves and tigers, but as domestic animals by nature, even though they have been badly brought up and not trained as you would wish.

In truth, the gold standard is already a barbarous relic.

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

I was suffering from my chronic delusion that one good share is safer than ten bad ones, and I am always forgetting that hardly anyone else shares this particular delusion.

... a speculator is one who runs risks of which he is aware and an investor is one who runs risks of which he is unaware.

A sound banker, alas, is not one who foresees danger and avoids it, but one who, when he is ruined, is ruined in a conventional way along with his fellows, so that no one can really blame him.