The old idea of a good bargain was a transaction in which one man got the better of another. The new idea of a good contract is a transaction which is good for both parties to it.

The best of wages will not compensate for excessively long working hours which undermine heath.

Strong, responsible unions are essential to industrial fair play. Without them the labor bargain is wholly one-sided.

Organisation can never be a substitute for initiative and for judgement.

The world presents enough problems if you believe it to be a world of law and order; do not add to them by believing it to be a world of miracles.

We learned long ago that liberty could be preserved only by limiting in some way the freedom of action of individuals; that otherwise liberty would necessarily yield to absolutism; and in the same way we have learned that unless there be regulation of competition, its excesses will lead to the destruction of competition, and monopoly will take its place.

The greatest menace to freedom is an inert people.