In Economics, Unlike Fiction And The Theater,

Third Party Politics, At Least Since La Follette, Has Always Had An Element Of Romance.

The Problem Of The Modern Economy Is Not A Failure Of A Knowledge Of Economics; It's A Failure Of A Knowledge Of History.

Financial Capacity And Political Perspicacity Are Inversely Correlated. Long-run Salvation By Men Of Business Has Never Been Highly Regarded If It Means Disturbance Of Orderly Life And Convenience In The Present. So Inaction Will Be Advocated In The Present Even Though It Means Deep Trouble In The Future. Here, At Least Equally With Communism, Lies The Threat To Capitalism. It Is What Causes Men Who Know That Things Are Going Quite Wrong To Say That Things Are Fundamentally Sound.

I Write With Two Things In Mind. I Want To Be Right With My Fellow Economists. After All, I've Made My Life As A Professional Economist, So I'm Careful That My Economics Is As It Should Be. But I Have Long Felt That There's No Economic Proposition That Can't Be Stated In Clear, Accessible Language. So I Try To Be Right With My Fellow Economists, But I Try To Have An Audience Of Any Interested, Intelligent Person.

It Was Herbert Spencer, Not Charles Darwin, Who Coined The Phrase Survival Of The Fittest.