Herb Stein's Unfamiliar Quotations

May 16 1997 3:30 AM

Herb Stein's Unfamiliar Quotations

On money, madness, and making mistakes.

(Continued from Page 3)
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Three percent exceeds 2 percent by 50 percent, not by 1 percent.

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--Edward Denison, in conversation, about 1960

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An obvious point, but one that is important--and commonly overlooked--in discussions of economic growth.

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Observe how he has made a breast of his back.

In life he wished to see too far before him,

And now he must crab backwards round this track.

--Dante Alighieri, TheInferno (Canto XX, Circle Eight--The Fortune Tellers and Diviners), early 14th century

This is Dante's vision of the fate of economic and political forecasters.

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Where is the wisdom we have lost in knowledge?

Where is the knowledge we have lost in information?

--T.S. Eliot, The Rock, 1934

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