"Economic freedom is a highly desirable state — but in bust and boom we must be prepared to face the its consequences."

“But like Marx, Veblen badly underestimated the capacity of a democratic system to correct its own excesses.”

“The rise of the welfare state, on the one hand, and of the military bureaucracy, on the other, are instances of the manner in which technology is enforcing a socialization of life.”

“The distribution of wealth, therefore, depends on the laws and customs of society.”

“But despite the clarion words of the Manifesto, the demonic note was not a call for a revolution of communism; it was a cry born only of frustration and despair.”

“In an age which no longer waits patiently through this life for the rewards of the next, it is a crushing spiritual blow to lose one's sense of participation in mankind's journey, and to see only a huge milling-around, a collective living-out of lives with no larger purpose than the days which each accumulates. When we estrange ourselves from history we do not enlarge, we diminish ourselves, even as individuals. We subtract from our lives one meaning which they do in fact possess, whether we recognize it or not. We cannot help living in history. We can only fail to be aware of it. If we are to meet, endure, and transcend the trials and defeats of the future — for trials and defeats there are certain to be — it can only be from a point of view which, seeing the future as part of the sweep of history, enables us to establish our place in that immense procession in which is incorporated whatever hope humankind may have.”

“It was the unemployment that was the hardest to bear. The jobless millions were like an embolism in the nation's vital circulation; and while their indisputable existence argued more forcibly than any text that something was wrong with the system, the economists wrung their hands and racked their brains and called upon the spirit of Adam Smith, but could offer neither diagnosis or remedy.”