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The Central Principle Of Investment Is To Go Contrary To The General Opinion, On The Grounds That If Everyone Agreed About Its Merits, The Investment Is Inevitably Too Dear And Therefore Unattractive.

Newton Was Not The First Of The Age Of Reason. He Was The Last Of The Magicians, The Last Of The Babylonians And Sumerians, The Last Great Mind That Looked Out On The Visible And Intellectual World With The Same Eyes As Those Who Began To Build Our Intellectual Inheritance Rather Less Than 10,000 Years Ago.

Nevertheless, If We Contemplate A Society With A Somewhat Stable Wage-unit, With National Characteristics Which Determine The Propensity To Consume And The Preference For Liquidity, And With A Monetary System Which Rigidly Links The Quantity Of Money To The Stock Of The Precious Metals, It Will Be Essential For The Maintenance Of Prosperity That The Authorities Should Pay Close Attention To The State Of The Balance Of Trade. For A Favourable Balance, Provided It Is Not Too Large, Will Prove Extremely Stimulating; Whilst An Unfavourable Balance May Soon Produce A State Of Persistent Depression.

Everything Is Always Decided For Reasons Other Than The Real Merits Of The Case

The Treasury Could Fill Old Bottles With Banknotes And Bury Them..and Leave It To Private Enterprises On Well-tried Principles Of Laissez-faire To Dig The Notes Up Again.