In The Long Run We

The Engine Which Drives Enterprise Is Not Thrift, But Profit.

The Destruction Of The Inducement To Invest By An Excessive Liquidity-preference Was The Outstanding Evil, The Prime Impediment To The Growth Of Wealth, In The Ancient And Medieval Worlds.

I Feel No Shame At Being Found Still Owning A Share When The Bottom Of The Market Comes…i Would Go Much Further Than That. I Should Say That It Is From Time To Time The Duty Of A Serious Investor To Accept The Depreciation Of His Holdings With Equanimity And Without Reproaching Himself. … An Investor…should Be Aiming Primarily At Long-period Results, And Should Be Solely Judged By These.

Gold Is A Relic From A Time When Government's Were Less Trustworthy In These Matters (currency Debasement) Than They Are Now.

Nor Should The Argument Seem Strange That Taxation May Be So High As To Defeat Its Object, And That, Given Sufficient Time To Gather The Fruits, A Reduction Of Taxation Will Run A Better Chance Than An Increase Of Balancing The Budget.