Time is our ultimate scarcity. Isaac Newton can give us more electricity, but he can't give us more than 24 hours of the day of time. And so we're constantly having to sacrifice alternate activities to get the one that pleases us most.

I did not throw out my education lightly, but what I was being taught was of no use in explaining what I saw around me. It was the Great Depression.

There's nothing in Keynesian economics that would allow you to solve stagflation. But there's nothing in neoclassical economics that would allow you to solve stagflation, either.

Paul Samuelson Quotes