I Should Have Drunk More Champagne.

The Difficulty Lies, Not In The New Ideas, But In Escaping The Old Ones, Which Ramify, For Those Brought Up As Most Of Us Have Been, Into Every Corner Of Our Minds.

There Is Nothing So Disastrous As A Rational Investment Policy In An Irrational World.

I Do Not Mean To Impugn The Social Justice And Social Expediency Of The Redistribution Of Incomes Aimed At By N.i.r.a. And By The Various Schemes For Agricultural Restriction. The Latter, In Particular, I Should Strongly Support In Principle. But Too Much Emphasis On The Remedial Value Of A Higher Price-level As An Object In Itself May Lead To Serious Misapprehension As To The Part Which Prices Can Play In The Technique Of Recovery. The Stimulation Of Output By Increasing Aggregate Purchasing Power Is The Right Way To Get Prices Up; And Not The Other Way Round.

The Right Remedy For The Trade Cycle Is Not To Be Found In Abolishing Booms And Thus Keeping Us Permanently In A Semi-slump; But In Abolishing Slumps And Thus Keeping Us Permanently In A Quasi-boom.

Too Large A Proportion Of Recent "mathematical" Economics Are Mere Concoctions, As Imprecise As The Initial Assumptions They Rest On, Which Allow The Author To Lose Sight Of The Complexities And Interdependencies Of The Real World In A Maze Of Pretentious And Unhelpful Symbols.