Bad economics makes bad ethics. The remedy for poverty is money. Though all progress is ultimately illusory if it does not redound to the advantage of the common man, progress itself is made by the uncommon man. One generalization is worth a thousand correlations. Ensnared by the universal but unusable truth that everything depends on everything else, a complicated theory is always a bad theory.
Misfortunes test the soul.
The weak man dwells upon them and sinks beneath them, the shrewd man lives around them, while the wise man meditates upon them and goes beyond them. Ideas without passion illuminate but do not inspire. Ideas are the capital of civilization and words are its media of exchange. All charity tends to corrupt, and absolute charity corrupts absolutely. Charles Issawi was Ragnar Nurkse Professor of Economics at Columbia University 1.