However, it is safe to say that at the peak in 1929 the number of active speculators was less – and probably was much less – than a million.
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.
American university presidents are a nervous breed; I have never thought well of them as a class.
Those who yearn for the end of capitalism should pray for government by men who believe that all positive action is inimical to what they call thoughtfully the fundamental principles of free enterprise.
Seaboard Air Line, which was thought by numerous innocents to provide a foothold in aviation, was another favorite, although, in fact, it was a railroad.
Truth has anciently been called the first casualty of war. Money may, in fact, have priority.
Educators have yet to realize how deeply the industrial system is dependent upon them.
THE GENIUS of the industrial system lies in its organized use of capital and technology. This is made possible, as we have duly seen, by extensively replacing the market with planning.
It is not the individual’s right to buy that is being protected. Rather, it is the seller’s right to manage the individual.
In the assumption that power belongs as a matter of course to capital, all economists are Marxians.
Only in very recent times has the average man been a source of savings.
Very important functions can be performed very wastefully and often are.
It is in the long run that the corporation lives.
Ideas do not respect national frontiers, and this is especially so where language and other traditions are in common.
Speeches in our culture are the vacuum that fills a vacuum.
Of all the mysteries of the stock exchange there is none so impenetrable as why there should be a buyer for everyone who seeks to sell.
Marx profoundly affected those who did not accept his system. His influence extended to those who least supposed they were subject to it.
It is the good fortune of the affluent country that the opportunity cost of economic discussion is low and hence it can afford all kinds.
The masters thought they were loved until one day one of their favorites farted loudly while serving dinner and the next day was gone. The very first manifestation of the classless society is the disappearance of the servant class.
One man’s consumption becomes his neighbor’s wish.