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Important Quotes

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Important Quotes

“That man is formed for social life is an observation which, upon our first inquiry, presents itself immediately to our view, and our reason approves that wise and generous principle which actuated the first founders of civil government, an institution which hat its origin in the weakness of individuals, and hath for its end the strength and security of all; and so long as the means of effecting this important end are thoroughly known and religiously attended to government is one of the richest blessings to mankind, and ought to be held in the highest veneration”

“Informal relationships are not mere minor interstitial supplements to the major institutions of society. These informal relationships not only include important decision-making processes, such as the family, but also produce much of the background social capital without which the other major institutions of society could not function nearly as effectively as they do.”

“everything is too important ever to be entrusted to professional experts, because every organization of such professionals and every established social organization becomes a vested-interest institution more concerned with its efforts to maintain itself or advance its own interests than to achieve the purpose that society expects it to achieve.”

“Curiosity, which may or may not eventuate in something useful, is probably the most outstanding characteristic of modern thinking ... Institutions of learning should be devoted to the cultivation of curiosity, and the less they are deflected by the consideration of immediacy of application, the more likely they are to contribute not only to human welfare, but to the equally important satisfaction of intellectual interest, which may indeed be said to have become the ruling passion of intellectual life in modern times.”

“Though business conditions may change, corporations and securities may change, and financial institutions and regulations may change, human nature remains the same. Thus the important and difficult part of sound investment, which hinges upon the investor's own temperament and attitude, is not much affected by the passing years.”

“It has become clear that America's civilian institutions of diplomacy and development have been chronically undermanned and underfunded for far too long - relative to what we spend on the military, and more important, relative to the responsibilities and challenges our nation has around the world.”

“But would the young do any better under the same circumstances? Will they do any better when their turns come? The answer is that youth would not and cannot, given the financial and economic framework within which the elders are operating. While the moral convictions of individuals are important in the long run, it is institutions that determine the immediate course of events - particularly the institutions of finance.”