“Valuation is vague and arbitrary, when there is no assurance that it will be generally acquiesced in by others.”

“Often I am struck in amazement about a word: I suddenly realize that the complete arbitrariness of our language is but a part of the arbitrariness of our own world in general.”

“A Government which is strong enough to hold its own will generally command an acquiescence which with all but very speculative minds, is the equivalent of contentment.”

“‎Whatever the costs in terms of sacrifice, the fruits of resistance are always greater than the damage generated from resignation to occupation, succumbing to its blows and acquiescing to its conditions.”

“According to [the general equilibrium approach to monetary theory], the principal way in which financial policies and events affect aggregate demand is by changing the valuations of physical assets relative to their replacement costs.”

“Many of my generation, the career captains, majors, and lieutenant colonels seasoned in that war [Vietnam], vowed that when our turn came to call the shots, we would not quietly acquiesce in halfhearted warfare for half-baked reasons that the American people could not understand.”

“We speak of people "taking refuge" in vagueness — the more precise you are, in general the more likely you are to be wrong, whereas you stand a good chance of not being wrong if you make it vague enough.”

“Liberals, it has been said, are generous with other peoples' money, except when it comes to questions of national survival when they prefer to be generous with other peoples' freedom and security.”

“When you looked up to the sky and cried 'Why?' sometimes the sky shrugged, yet other times it answered with warm assurance of linked hands.”

“There are other proposals before Congress for amending the transportation acts. One of these contemplates a revision of the method of valuation for rate-making purposes to be followed by a renewed valuation of the railways. The valuations instituted by the Interstate Commerce Commission 10 years ago have not yet been completed. They have cost the Government an enormous sum, and they have imposed great expenditure upon the railways, most of which has in effect come out of the public in increased rates. This work should not be abandoned or supplanted until its results are known and can be considered.”