If Economists Could Manage To Get Themselves

Conservatism Leads Nowhere; It Satisfies No Ideal.

The Difficulty Lies, Not In The New Ideas, But In Escaping The Old Ones, Which Ramify, For Those Brought Up As Most Of Us Have Been, Into Every Corner Of Our Minds.

The Ideas Of Economists And Political Philosophers, Both When They Are Right And When They Are Wrong, Are More Powerful Than Is Generally Understood. Indeed, The World Is Ruled By Little Else.

In A Regime Of Free Trade And Free Economic Intercourse It Would Be Of Little Consequence That Iron Lay On One Side Of A Political Frontier, And Labour, Coal, And Blast Furnaces On The Other. But As It Is, Men Have Devised Ways To Impoverish Themselves And One Another; And Prefer Collective Animosities To Individual Happiness.

As Time Goes On, I Get More And More Convinced That The Right Method Of Investment Is To Put Fairly Large Sums Into Enterprises Which One Thinks One Knows Something About And In The Management Of Which One Thoroughly Believes.