Geniuses and prophets do not usually excel in professional learning, and their originality, if any, is often due precisely to the fact that they do not.

The success of everything depends on intuition, the capacity of seeing things in a way which afterwards proves to be true, even though it cannot be established at the moment, and of grasping the essential fact, discarding the unessential, even though one can give no account of the principles by which this is done.

All we can thus far say about the duration of the units of [the business cycle] and each of [its] two phases is that it will depend on the nature of the particular innovations that carry a cycle,... and the financial conditions and habits prevailing in the business community in each case.

Success depends on intuition, on seeing what afterwards proves true but cannot be established at the moment.

We always plan too much and always think too little.

Profit is the payment you get when you take advantage of change.

In economic life competition is never completely lacking, but hardly ever is it perfect.