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" Every good cause is worth some inefficiency. "

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" You're not making a decision if you come to a fork in the road. There is no 'it' to take. It's one or the other. "

Fork In The Road

" Asia's governments come in two broad varieties: young, fragile democracies - and older, fragile authoritarian regimes. "

" Politicians like to tell people what they want to hear - and what they want to hear is what won't happen. "

" Companies are not charitable enterprises: They hire workers to make profits. In the United States, this logic still works. In Europe, it hardly does. "

" Let those who will - write the nation's laws - if I can write its textbooks. "

" The history of the twentieth century - America's century! - has been pretty much a history of rising prices. "

" To a person of analytical ability, perceptive enough to realise that mathematical equipment was a powerful sword in economics, the world of economics was his or her oyster in 1935. The terrain was strewn with beautiful theorems begging to be picked up and arranged in unified order. "

" Actually, in my advanced, high-falutin' frontier economics, I often work with what I define as 'money metric utility,' and I ask people, 'Do you really want that? What are you willing to pay for that?' "

" The Malthusian Theory - that mankind, for biological and sociological reasons, is so fertile, so fecund, that if you started out with the new continent and plenty of land for everybody, in several generations we would multiply our numbers. "

" Investing should be more like watching paint dry or watching grass grow. If you want excitement, take $800 and go to Las Vegas. "

" Women are men without money. "

" Rent control created deadweight loss. "

" It is indeed true that the stock market can forecast the business cycle. "

" I'm not speaking in favor of killing innovation. I'm speaking in favor of centrist use of the market, which involves necessarily a considerable degree of regulation. Markets by themselves will get themselves inevitably into inequality and into their own destruction. It will happen again and again. "

" What we know about the global financial crisis is that we don't know very much. "

" People have the wrong idea that God will forgive Reagan. They say he didn't know what he was doing. It's true he didn't know a lot of what was going on, but he was directly responsible. "

" It is not easy to get rich in Las Vegas, at Churchill Downs, or at the local Merrill Lynch office. "

" My family was well off but not rich. I spent the four years I was an undergraduate working on the beach. And it wasn't because I was lazy; it was because my freshman class would go to a hundred different employers and wouldn't get a nibble. That was a disequilibrium system. I realized that the ordinary old-fashioned Euclidean geometry didn't apply. "

" I decided that there was only one place to make money in the mutual fund business, as there is only one place for a temperate man to be in a saloon: behind the bar and not in front of it. "

" Funeral by funeral, theory advances. "

" I think economics - and this is what I've tried to impart - has a tremendous amount of human interest in it. "

" The contrafactual history is what it would have been the other way. Think of the Kennedy triumph in the missiles crisis. Worked out fine. Khrushchev blinked and so forth. The other road, you don't want to think too hard about. You could have had nuclear missiles wiping out a tenth of the globe. "

" Good questions outrank easy answers. "

" One of the pleasing things about science is that we do all climb towards the heavens on the shoulders of our predecessors. Economics, like physics, has its heroes, and the letter 'H' that I used in my mathematical equations was not there to honor Sir William Hamilton, but rather Harold Hotelling. "

" People had J.F.K. all wrong. They thought of him as a dashing, deciding type. He was an extremely hesitant person who checked the ice in front of him all the time. "

" In the jargon of American vaudeville, Professors Frisch and Tinbergen are a 'hard act to follow.' But then, all my life, I have been following such great scholars and policy advisors as these. "

" Charles Darwin got his theory, his notion of natural selection, evolution, and so did its independent discoverer, Alfred Wallace, from reading Malthus. "

" Let me acknowledge that I realize that, in honoring me, the Committee of the Royal Academy of Sciences is in fact saying a good word for all of those of my generation who have been laboring in the same vineyard. "

" My belief is that nothing that can be expressed by mathematics cannot be expressed by careful use of literary words. "

" Self-deception ultimately explains Japan's plight. The Japanese have never accepted that change is in their interest - and not merely a response to U.S. criticism. "