Just as a poetic discussion of the weather is not meteorology, so an issuance of moral pronouncements or political creeds about the economy is not economics. Economics is a study of cause-and-effect relationships in an economy.

There is no bigger waste of time than doing 90% of what is necessary.

Just as any moron can destroy a priceless Ming vase, so the shallow and ill-educated people who run our schools can undermine and destroy from within a great civilization that took centuries of dedicated effort to create and maintain.

Those who automatically say that the social pathology of the ghetto is due to poverty discrimination and the like cannot explain why such pathology was far less prevalent in the 1950s, when poverty and discrimination were worse. But there were not nearly as many grievance mongers and race hustlers then.

Virtually no idea is too ridiculous to be accepted, even by very intelligent and highly educated people, if it provides a way for them to feel special and important. Some confuse that feeling with idealism.

Although I am ready to defend what I have said, many people expect me to defend what others have attributed to me.

Congressman Frank and Senator Dodd wanted the government to push financial institutions to lend to people they would not lend to otherwise, because of the risk of default. ... The idea that politicians can assess risks better than people who have spent their whole careers assessing risks should have been so obviously absurd that no one would take it seriously.