Power Is As Power Does.

In Public Administration Good Sense Would Seem To Require That Public Expectation Be Kept At The Lowest Possible Level In Order To Minimize Eventual Disappointment.

To See Economic Policy As A Problem Of Choice Between Rival Ideologies Is The Greatest Error Of Our Time.

The Spirit Should Never Grow Old.

Foresight Is An Imperfect Thing - All Prevision In Economics Is Imperfect.

A Very Complicated Mass Of Things Influences The Economy - The Speculative Effect, Government Policy, Consumer Borrowing And Spending, The Level Of Technical Innovation (which I Concede, Although Everyone Emphasizes It Too Much), And Much More - Including, Of Course, The Rate Of Inflation.