Instead of investing in the goods as they pass between producer and consumer, as the merchant does, the businessman now invests in the processes of industry.

In point of substantial merit the law school belongs in the modern university no more than a school of fencing or dancing.

Only individuals with an aberrant temperament can in the long run retain their self-esteem in the face of the disesteem of their fellows.

The abjectly poor, and all those person whose energies are entirely absorbed by the struggle for daily sustenance, are conservative because they cannot afford the effort of taking thought for the day after tomorrow; just as the highly prosperous are conservative because they have small occasion to be discontented with the situation as it stands today.

No one travelling on a business trip would be missed if he failed to arrive.

Born in iniquity and conceived in sin, the spirit of nationalism has never ceased to bend human institutions to the service of dissension and distress.

With the exception of the instinct of self-preservation, the propensity for emulation is probably the strongest and most alert and persistent of the economic motives proper.