No intelligence system can predict what a government will do if it doesn't know itself.
Faced with the choice between changing one's mind and proving there is no need to do so, almost everyone gets busy on the proof.
Agreeable as it is to know where one is proceeding, it is far more important to know where one has arrived.
The process by which banks create money is so simple that the mind is repelled. John Kenneth Galbrait
Happiness does not require an expanding economy
There are few ironclad rules of diplomacy but to one there is no exception. When an official reports that talks were useful, it can safely be concluded that nothing was accomplished.
A wrong decision isn't forever; it can always be reversed. The losses from a delayed decision are forever; they can never be retrieved.
Even in such a time of madness as the late twenties, a great many man in Wall Street remained quite sane. But they also remained very quiet. The sense of responsibility in the financial community for the community as a whole is not small. It is nearly nil. Perhaps this is inherent. In a community wh
Nothing is so admirable in politics as a short memory. John Kenneth Galbr
If anything is evident about people who manage money, it is that the task attracts a very low level of talent, one that is protected in its highly imperfect profession by the mystery that is thought to enfold the subject of economics in general and of money in particular.
It would be foolish to suggest that government is a good custodian of aesthetic goals. But, there is no alternative to the state.
The world of finance hails the invention of the wheel over and over again, often in a slightly more unstable version.
Under capitalism, man exploits man. Under communism, it's just the opposite.
In economics it is a far, far wiser thing to be right than to be consistent
Man, at least when educated, is a pessimist. He believes it safer not to reflect on his achievements; Jove is known to strike such people down.
The present age of contentment will come to an end only when and if the adverse developments that it fosters challenge the sense of comfortable well-being
The contented and economically comfortable have a very discriminating view of government. Nobody is ever indignant about bailing out failed banks and failed savings and loans associations. But when taxes must be paid for the lower middle class and poor, the government assumes an aspect of wickedness
The great dialectic in our time is not, as anciently and by some still supposed, between capital and labor; it is between economic enterprise and the state.
In 1929 the discovery of the wonders of the geometric series struck Wall Street with a force comparable to the invention of the wheel.
One can relish the varied idiocy of human action during a panic to the full, for, while it is a time of great tragedy, nothing is being lost but money.
A drastic reduction in weapons competition following a general release from the commitment to the Cold War would be sharply in conflict with the needs of the industrial system.
We do not manufacture wants for goods we do not produce.
That one never need to look beyond the love of money for explanation of human behavior is one of the most jealously guarded simplification of our culture.
All successful revolutions are the kicking in of a rotten door. The violence of revolutions is the violence of men who charge into a vacuum.
In numerous years following the war, the Federal Government ran a heavy surplus. It could not (however) pay off its debt, retire its securities, because to do so meant there would be no bonds to back the national bank notes. To pay off the debt was to destroy the money supply.
Ideas do not respect national frontiers, and this is especially so where language and other traditions are in common.
I predict, not because I know, but because I'm asked.
Truth has anciently been called the first casualty of war. Money may, in fact, have priority.
Why is anything intrinsically so valueless so obviously desirable?
By all but the pathologically romantic, it is now recognized that this is not the age of the small man.