Power is as power does.
It is a commonplace of modern technology that problems have solutions before there is knowledge of how they are to be solved.
Meetings are indispensable when you don't want to do anything. John Kenneth Galbr
Few economic problems, if any, are difficult of solution. The difficulty, all but invariably, is in confronting them. We know what needs to be done; for reasons of inertia, pecuniary interest, passion or ignorance, we do not wish to say so.
I predict, not because I know, but because I'm asked.
If you get a reputation for being honest, you have 95 percent of the competition already beat.
Much literary criticism comes from people for whom extreme specialization is a cover for either grave cerebral inadequacy or terminal laziness, the latter being a much cherished aspect of academic freedom.
Of all the weapons in the Federal Reserve arsenal, words were the the most unpredictable in their consequences.
The shortcomings of economics are not original error but uncorrected obsolescence. The obsolescence has occurred because what is convenient has become sacrosanct. Anyone who attacks such ideas must seem to be a trifle self-confident and even aggressive. The man who makes his entry by leaning against
With the American failure came world failure.
In 1929 the discovery of the wonders of the geometric series struck Wall Street with a force comparable to the invention of the wheel.
Any consideration of the life and larger social existence of the modern corporate man begins and also largely ends with the effect of one all-embracing force. That is organization -- the highly structured assemblage of men, and now some women, of which he is a part. It is to this, at the expense of
The real accomplishment of modern science and technology consists in taking ordinary men, informing them narrowly and deeply and then, through appropriate organization, arranging to have their knowledge combined with that of other specialized but equally ordinary men. This dispenses with the need fo
Anyone who says he won't resign four times, will.
Politics is not the art of the possible. It consists in choosing between the disastrous and the unpalatable.
There can be few fields of human endeavor in which history counts for so little as in the world of finance.Past experience, to the extent that it is part of memory at all, is dismissed as the primitive refuge of the those who do not have insight to appreciate the incredible wonders of the present.
Talk of revolution is one of avoiding reality.
Few people at the beginning of the nineteenth century needed an adman to tell them what they wanted.
In a world where for pedagogic and other purposes a very large number of economists is required, an arrangement which discourages many of them from
Inflation does not lubricate trade but by rescuing traders from their errors of optimism or stupidity.
The massive reduction in risk that is inherent in the development of the modern corporation has been far from fully appreciated.
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.
When people are least sure, they are often most dogmatic.
Technology, under all circumstances, leads to planning; in its higher manifestations it may put the problems of planning beyond the reach of the industrial firm. Technological compulsions, and not ideology or political will, will require the firm to seek the help and protection of the state.
People who are in a fortunate position always attribute virtue to what makes them so happy.
Nothing is more portable than rich people and their money
Economic stimulation that works through the increased outlays to the affluent has, inevitably, an aspect of soundness and sanity that is lacking in expenditure on behalf of the undeserving poor.
By all but the pathologically romantic, it is now recognized that this is not the age of the small man.
There is a common tendency to ignore the poor or to develop some rationalisation for the good fortune of the fortunate.
One of the greatest pieces of economic wisdom is to know what you do not know.