One of the greatest pieces of economic wisdom is to know what you do not know.

There is something wonderful in seeing a wrong-headed majority assailed by truth.

The salary of the chief executive of a large corporation is not a market award for achievement. It is frequently in the nature of a warm personal gesture by the individual to himself.

In the United States, though power corrupts, the expectation of power paralyzes.

It has been the acknowledged right of every Marxist scholar to read into Marx the particular meaning that he himself prefers and to treat all others with indignation.

We have escapist fiction, so why not escapist biography?

In economics, hope and faith coexist with great scientific pretension and also a deep desire for respectability.

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.

Few can believe that suffering, especially by others, is in vain. Anything that is disagreeable must surely have beneficial economic effects.

Faced with the choice between changing one's mind and proving that there is no need to do so, almost everyone gets busy on the proof.

The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness.

Politics is not the art of the possible. It consists in choosing between the disastrous and the unpalatable.

Under capitalism, man exploits man. Under communism, it's just the opposite.

Humor is richly rewarding to the person who employs it. It has some value in gaining and holding attention, but it has no persuasive value at all.

Economics is extremely useful as a form of employment for economists.

We can safely abandon the doctrine of the eighties, namely that the rich were not working because they had too little money, the poor because they had much.

In all life one should comfort the afflicted, but verily, also, one should afflict the comfortable, and especially when they are comfortably, contentedly, even happily wrong.

It would be foolish to suggest that government is a good custodian of aesthetic goals. But, there is no alternative to the state.

The only function of economic forecasting is to make astrology look respectable.

A person buying ordinary products in a supermarket is in touch with his deepest emotions.

By all but the pathologically romantic, it is now recognized that this is not the age of the small man.

Nothing is so admirable in politics as a short memory.

We all agree that pessimism is a mark of superior intellect.

Total physical and mental inertia are highly agreeable, much more so than we allow ourselves to imagine. A beach not only permits such inertia but enforces it, thus neatly eliminating all problems of guilt. It is now the only place in our overly active world that does.

War remains the decisive human failure.

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.

Power is not something that can be assumed or discarded at will like underwear.

In any great organization it is far, far safer to be wrong with the majority than to be right alone.

People who are in a fortunate position always attribute virtue to what makes them so happy.

All of the great leaders have had one characteristic in common: it was the willingness to confront unequivocally the major anxiety of their people in their time. This, and not much else, is the essence of leadership.

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.

More die in the United States of too much food than of too little.

You will find that the State is the kind of organization which, though it does big things badly, does small things badly, too.

The commencement speech is not, I think, a wholly satisfactory manifestation of our culture.

Meetings are indispensable when you don't want to do anything.

There is certainly no absolute standard of beauty. That precisely is what makes its pursuit so interesting.

There's a certain part of the contented majority who love anybody who is worth a billion dollars.

Liberalism is, I think, resurgent. One reason is that more and more people are so painfully aware of the alternative.

The conspicuously wealthy turn up urging the character building values of the privation of the poor.

Money differs from an automobile or mistress in being equally important to those who have it and those who do not.

Modesty is a vastly overrated virtue.

In the choice between changing ones mind and proving there's no need to do so, most people get busy on the proof.

A bad book is the worse that it cannot repent. It has not been the devil's policy to keep the masses of mankind in ignorance; but finding that they will read, he is doing all in his power to poison their books.

If wrinkles must be written upon our brows, let them not be written upon the heart. The spirit should never grow old.

Wealth, in even the most improbable cases, manages to convey the aspect of intelligence.

Politics is the art of choosing between the disastrous and the unpalatable.

The Metropolis should have been aborted long before it became New York, London or Tokyo.

The enemy of the conventional wisdom is not ideas but the march of events.

All successful revolutions are the kicking in of a rotten door.