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

Economists who speak the English tongue are strangely intimidated by mathematical symbols.

In economics, when you put together a highly elastic thing and a highly inelastic thing, you create extraordinary potential for turbulence, volatility, and for unstable prices.

What is surprising is not that oppression should make its appearance only after higher forms of economy have been reached, but that it should always accompany them.

If I can do something with economics or I can be a musician, I think I will be a musician.

We have overfed Europe with oil. Every economics textbook says that surplus supply lowers prices. But we can't reduce supply -- all our exports are oriented toward Europe.

The desire to achieve grand utopian plans often poses a grave threat to freedom

At the time, my personal research objectives were to provide Keynesian economics with more rigorous foundations and to tighten and elaborate the logic of macroeconomic and monetary theory.

Bankruptcy and repudiation are the springboards from which much of our civilization vaults and turns its somersets, but the savagestands on the unelastic plank of famine.

Economics is concerned with what emerges, not what anyone intended.