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“The key problem is to find out why that sector of society of the past, which I would not hesitate to call capitalist, should have lived as if in a bell jar, cut off from the rest; why was it not able to expand and conquer the whole of society?... [Why was it that] a significant rate of capital formation was possible only in certain sectors and not in the whole market economy of the time?”

“It is always the sign of the second-rate man when the decision merely meets the present situation. It is the left-over in a decision which gives it its greatest value. It is the carry-over in the decision which helps develop the situation in the way we wish it to be developed. The ablest administrators do not merely draw logical conclusions from the array of facts of the past which their expert assistants bring to them; they have a vision of the future.”

“Good government cannot be found on the bargain-counter. We have seen samples of bargain-counter government in the past when low tax rates were secured by increasing the bonded debt for current expenses or refusing to keep our institutions up to the standard in repairs, extensions, equipment, and accommodations. I refuse, and the Republican Party refuses, to endorse that method of sham and shoddy economy.”