It is better that a man should tyrannize over his bank balance than over his fellow-citizens.

Government machinery has been described as a marvelous labor saving device which enables ten men to do the work of one.

Unlike physics, for example, such parts of the bare bones of economic theory as are expressible in mathematical form are extremely easy compared with the economic interpretation of the complex and incompletely known facts of experience, and lead one a very little way towards establishing useful results.

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.

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

Too large a proportion of recent "mathematical" economics are mere concoctions, as imprecise as the initial assumptions they rest on, which allow the author to lose sight of the complexities and interdependencies of the real world in a maze of pretentious and unhelpful symbols.

In this autumn of 1919, in which I write, we are at the dead season of our fortunes.