“The destruction of the inducement to invest by an excessive liquidity-preference was the outstanding evil, the prime impediment to the growth of wealth, in the ancient and medieval worlds.”

It would not be foolish to contemplate the possibility of a far greater progress still.

Dangerous acts can be done safely in a community which thinks and feels rightly, which would be the way to hell if they were executed by those who think and feel wrongly.

We will not have any more crashes in our time.

Chess is a cure for headaches.

A sound banker, alas, is not one who foresees danger and avoids it, but one who, when he is ruined, is ruined in a conventional way along with his fellows, so that no one can really blame him.

If human nature felt no temptation to take a chance there might not be much investment merely as a result of cold calculation.

The biggest problem is not to let people accept new ideas, but to let them forget the old ones.

Whenever you save five shillings you put a man out of work for a day.

A speculator is one who runs risks of which he is aware and an investor is one who runs risks of which he is unaware.

It is the long-term investor, who will in practice come in for the most criticism… For it is the essence of his behavior that he should be eccentric, unconventional, and rash in the eyes of average opinion.

Investment based on genuine long-term expectations is so difficult today as to be scarcely practicable.

Perhaps a day might come when there would be at last be enough to go round, and when posterity could enter into the enjoyment of our labors.

The day is not far off when the economic problem will take the back seat where it belongs, and the arena of the heart and the head will be occupied or reoccupied, by our real problems – the problems of life and of human relations, of creation and behavior and religion.

If you owe your bank a hundred pounds, you have a problem. But if you owe a million, it has.

I am sure that the power of vested interests is vastly exaggerated compared with the gradual encroachment of ideas.

The important thing for Government is not to do things which individuals are doing already, and to do them a little better or a little worse; but to do those things which at present are not done at all.

The sole precoccupation of this learned society was the destruction of humanity for philanthropic reasons and the perfection of weapons as instruments of civilization.

As soon as government management begins it upsets the natural equilibrium of industrial relations, and each interference only requires further bureaucratic control until the end is the tyranny of the totalitarian state.

She is beautiful contraction; a fragile heart with indestructible love.

The greatest tyrannies are always perpetuated in the name of the noblest causes.

There is no disease so destructive as lust.

My heart has a history of silent catastrophes.

Chaos in the midst of chaos isn’t funny, but chaos in the midst of order is.

Pride is the cause of the most damaging fall for the soul.