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"If [a man] spent his money, say, in giving parties for his friends, they (we may hope) would get pleasure, and so would all those upon whom he spent money, such as the butcher, the baker, and the bootlegger. But if he spends it (let us say) upon laying down rails for surface cars in some place where surface cars turn out not to be wanted, he has diverted a mass of labor into channels where it gives pleasure to no one. Nevertheless, when he becomes poor through failure of his investment he will be regarded as a victim of undeserved misfortune, whereas the gay spendthrift, who has spent his money philanthropically, will be despised as a fool and a frivolous person."
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!["If [a man] spent his money, say, in giving parties for his friends, they (we may hope) would get pleasure, and so would all those upon whom he spent money, such as the butcher, the baker, and the bootlegger. But if he spends it (let us say) upon laying down rails for surface cars in some place where surface cars turn out not to be wanted, he has diverted a mass of labor into channels where it gives pleasure to no one. Nevertheless, when he becomes poor through failure of his investment he will be regarded as a victim of undeserved misfortune, whereas the gay spendthrift, who has spent his money philanthropically, will be despised as a fool and a frivolous person."](data:image/gif;base64,R0lGODlhAQABAIAAAP///wAAACH5BAEAAAAALAAAAAABAAEAAAICRAEAOw==)
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"Employment is the biggest form of slavery."
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"The economic base of a nation, is the foundation of the it's secrets."
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"I don't know where the stock market is going, but I will say this, that if it continues higher, this will do more to stimulate the economy than anything we've been talking about today or anything anybody else was talking about."
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"A farmer is a magician who produces money from the mud."
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"Because of the power that we have given money: The government would rather have taxpayers who do not vote, than voters who do not pay tax."
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"In capitalist nation, all is decided by money."
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"Not every single broke and unemployed person needs a job, some need customers."
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"Civilization transformed man from a food gatherer to a gatherer of pieces of paper: diplomas, employment contracts, money, etc."
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"India is poised to contribute as a new engine of global growth. A larger Indian economy has multiple benefits for the world. India presents a large and growing market. But India is much more than a market. India is a reliable partner; a source of high quality scientific, engineering and managerial talent."
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"India is one of the world economy's brightest spots. We have low inflation, a low balance of payments current account deficit, and a high rate of growth. This is the result of good policy, not good fortune."
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"Machines are worshipped because they are beautiful and valued because they confer power; they are hated because they are hideous and loathed because they impose slavery."
Power
"One obvious palliative of the evils of democracy in its present form would be to encourage much more publicity and initiative on the part of civil servants. They ought to have the right, and, on occasion, the duty, to frame Bills in their own names, and set forth publicly the arguments in their favor."
Governance
"The average man's opinions are much less foolish than they would be if he thought for himself."
Wisdom
"The power of reason is thought small in these days, but I remain an unrepentant rationalist. Reason may be a small force, but it is constant, and works always in one direction, while the forces of unreason destroy one another in futile strife. Therefore every orgy of unreason in the end strengthens the friends of reason, and shows afresh that they are the only true friends of humanity."
Reason
"Continuity of purpose is one of the most essential ingredients of happiness in the long run and for most men this comes chiefly through their work."
Life
"To conquer fear is the beginning of wisdom."
Wisdom
"And always, in our highly regularised way of life, he is obsessed by thoughts of themorrow. Of all the precepts in the Gospels the one that Christians have most neglected is the commandment to take no thought for the morrow. If a man is prudent, thought for the morrow will lead him to save; if he is imprudent, it will make him apprehensive of being unable to pay his debts. In either case the moment loses its savour. Everything is organised, nothing is spontaneous."
Time
"Intellectually, what is stimulating to a young man is a problem of obvious practical importance. A young man learning economics, for example, ought to hear lectures from individualists and socialists, protectionists and free-traders, inflationists and believers in the gold standard. He ought to be encouraged to read the best books of the various schools, as recommended by those who believe in them. This would teach him to weigh arguments and evidence, to know that no pinion is certainly right, and to judge men by their quality rather than by their consonance with preconceptions."
Education
"The point of philosophy is to start with something so simple as not to seem worth stating, and to end with something so paradoxical that no one will believe it."
Philosophy
"The man who has no tincture of philosophy goes through life imprisoned in the prejudices derived from common sense, from the habitual beliefs of his age or his nation, and from convictions which have grown up in his mind without the cooperation or consent of his deliberate reason."
Philosophy
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