All Successful Revolutions Are The Kicking In

The Years Of The Great Depression Were A Superb Time For Economists Because People Not Knowing What Could Be Done Or What Should Be Done Would Always Assume That Maybe An Economist Had The Answer. If You Were Just A Lawyer In Washington, You Were Nobody. But If You Were An Economist, You Might Have The Answer.

I Talked About The Consolidation Of Power In The Hands Of The Corporate Bureaucracy, As Distinct From The Stockholders. To This View, I Still Strongly Adhere.

In Any Great Organization It Is Far, Far Safer To Be Wrong With The Majority Than To Be Right Alone.

The Oldest Problem In Economic Education Is How To Exclude The Incompetent. A Certain Glib Mastery Of Verbiage-the Ability To Speak Portentously And Sententiously About The Relation Of Money Supply To The Price Level-is Easy For The Unlearned And May Even Be Aided By A Mildly Enfeebled Intellect. The Requirement That There Be Ability To Master Difficult Models, Including Ones For Which Mathematical Competence Is Required, Is A Highly Useful Screening Device.

The Ideas By Which People . . . Interpret Their Existence And In Measure Guide Their Behavior, Were Not Forged In A World Of Wealth.