The art of economics consists in looking not merely at the immediate but at the longer effects of any act read more

The art of economics consists in looking not merely at the immediate but at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups.

It seems that an essential condition for crises is to be found in the existence of a highly developed system read more

It seems that an essential condition for crises is to be found in the existence of a highly developed system of communications and the spreading of a homogenous mentality over vast areas.But when the hour and the right material are at hand, the contagion spreads with the speed of electricity over hundreds of miles, and affects the most diverse populations, which hardly know each other. The message flies through the air and they all suddenly agree on that one issue, if only a sulky admission that "there's got to be a change.".

Only enemies speak the truth. Friends and lovers lie endlessly, caught in the web of duty.

Only enemies speak the truth. Friends and lovers lie endlessly, caught in the web of duty.

All revolutions...have been led by persons who knew oppression well, but not on their own skin.

All revolutions...have been led by persons who knew oppression well, but not on their own skin.

The modern definition of 'racist' is someone who is winning an argument with a liberal.

The modern definition of 'racist' is someone who is winning an argument with a liberal.

The "private sector" of the economy is, in fact, the voluntary sector; and...the "public sector" is, in fact, the coercive read more

The "private sector" of the economy is, in fact, the voluntary sector; and...the "public sector" is, in fact, the coercive sector.

It is better that ten guilty escape than one innocent suffer.

It is better that ten guilty escape than one innocent suffer.

Find out just what any people will quietly submit to and you have the exact measure of the injustice and read more

Find out just what any people will quietly submit to and you have the exact measure of the injustice and wrong which will be imposed on them.

If you are to stand up for your Government you must be able to stand up to your Government.

If you are to stand up for your Government you must be able to stand up to your Government.