Economics is haunted by more fallacies than any other study known to man.
If precious metals had been abundant, they would not have been precious.
Knowledge of things and knowledge of the words for them grow together. If you do not know the words, you can hardly know the thing.
Need is not demand. Effective economic demand requires not merely need but corresponding purchasing power.
The future of human liberty... means the future of civilization.
The ideas which now pass for brilliant innovations and advances are in fact mere revivals of ancient errors, and a further proof of the dictum that those who are ignorant of the past are condemned to repeat it.
The real solution to the problem of poverty consists in finding how to increase the employment and earning power of the poor.
Today is already the tomorrow which the bad economist yesterday urged us to ignore.
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