[The notion of equilibrium] is a notion which can be employed usefully in varying degrees of looseness. It is an absolutely indispensable part of the toolbag of the economist and one which he can often contribute usefully to other sciences which are occasionally apt to get lost in the trackless exfoliations of purely dynamic systems.

Physicists can only talk to other physicists and economists to economists... sociologists often cannot even understand each other.

We should always bear in mind that numbers represent a simplification of reality.

The love of God again makes us free, for it draws us to set a low value on those things wherein we are subject to others - our wealth, our position, our reputation, and our life - and to set a high value on those things which no man can take from us - our integrity, our righteousness, our love for all men, and our communion with God.

The World is a very complex system. It is easy to have too simple a view of it, and it is easy to do harm and to make things worse under the impulse to do good and make things better.

In 1859 the human race discovered a huge treasure chest in its basement. This was oil and gas, a fantastically cheap and easily available source of energy. We did, or at least some of us did, what anybody does who discovers a treasure in the basement - live it up, and we have been spending this treasure with great enjoyment

The concept of need is often looked upon rather unfavorably by economists, in contrast with the concept of demand. Both, however, have their own strengths and weaknesses. The need concept is criticized as being too mechanical, as denying the autonomy and individuality of the human person, and as implying that the human being is a machine which "needs" fuel in the shape of food, engine dope in the shape of medicine, and spare parts provided by the surgeon.