“They have the most influence on policy where they know the least and disagree most vehemently.”

Life is not a multiple choice test, it’s an open-book essay exam.

And there would be an inventory pileup. And then – bam – businesses would react, sometimes violently, by cutting production.

His stellar record suggests that the only right answer to the age-old question of whether it is better to be lucky or good may be: both.

Murphys law of economic policy’: Economists have the least influence on policy where they know the most and are most agreed.

If you try to give an on-the-one-hand-or-the-other- hand answer, only one of the hands tends to get quoted.

In the classic old business cycle, there would be a diminution in sales; it would take a little while for this information to reach corporate headquarters.

Public opinion is presumptively an input to policy formation in a democracy because politicians respond to it or at least are believed to respond [to it].

The last duty of a central banker is to tell the public the truth.

And the maestro surely wielded the chairman’s baton with extraordinary skill.

There is a kind of a cascading chain, … If one can’t sell, then that business doesn’t buy and that means the next business doesn’t sell, and the previous business doesn’t sell, and so on.

The first step in solving any problem is recognizing there is one – America is not the greatest country in the world anymore.

Any time you get two people in a room who disagree about anything, the time of day, there is a scene to be written. That’s what I look for.

A dear bargain is always disagreeable, particularly as it is a reflection upon the buyer’s judgment.

When people disagreed with him he urged them to be objective.

A nation which can prefer disgrace to danger is prepared for a master, and deserves one.

If you drink much from a bottle marked ‘poison’ it is certain to disagree with you sooner or later.

You’re allowed to disagree. You’re allowed to live differently. You’re allowed to struggle publicly, but I’m also allowed to NOT struggle publicly.

You’re allowed to disagree. You’re allowed to live differently. You’re allowed to struggle publicly, but I’m also allowed to NOT struggle publicly.