“For a country, everything will be lost when the jobs of an economist and a banker become highly respected professions.”

Europe is a state with several provinces

One more organ or one less in our body would give us a different intelligence. In fact, all the established laws as to why our body is a certain way would be different if our body were not that way.

As men are affected in all ages by the same passions, the occasions which bring about great changes are different, but the causes are always the same.

Each citizen contributes to the revenues of the State a portion of his property in order that his tenure of the rest may be secure.

A nation may lose its liberties in a day and not miss them in a century.

Liberty is the right to do what the law permits.

Love of reading enables a man to exchange the weary hours, which come to every one, for hours of delight.

Study has been for me the sovereign remedy against all the disappointments of life. I have never known any trouble that an hour’s reading would not dissipate.

Countries are not cultivated in proportion to their fertility, but to their liberty.

The success of most things depends upon knowing how long it will take to succeed.

When virtue is banished, ambition invades the minds of those who are disposed to receive it and avarice possesses the whole community.

At our coming into the world we contract an immense debt to our country, which we can never discharge.

Luxury ruins republics; poverty, monarchies.

It is necessary from the very nature of things that power should be a check to power.

If I knew of something that could serve my nation but would ruin another, I would not propose it to my prince, for I am first a man and only then a Frenchman… because I am necessarily a man, and only accidentally am I French.

Talent is a gift which God has given us secretly, and which we reveal without perceiving it.

I think we’re in the take-the-money-and-run stage of the economy. So the banks may go under, but the bankers, who make the policy, clean up.

Why is it possible to rescue S&L buccaneers in the early ’90s and provide guidance to levered Wall Street investment bankers during the 1998 long-term capital management crisis, yet throw 2 million homeowners to the wolves in 2007?

The economic repercussions of a stock market crash depend less on the severity of the crash itself than on the response of economic policymakers, particularly central bankers.

The benefit of appointing a hawkish central banker is the increased inflation-fighting credibility that such an appointment brings.

Individually the poor are not too tempting to thieves, for obvious reasons. Mug a banker and you might score a wallet containing a month’s rent. Mug a janitor and you will be lucky to get away with bus fare to flee the crime scene.