Political Economy or Economics is a study of mankind in the ordinary business of life.

Nature's action is complex: and nothing is gained in the long run by pretending that it is simple, and trying to describe it in a series of elementary propositions.

In common use almost every word has many shades of meaning, and therefore needs to be interpreted by the context.

The hope that poverty and ignorance may gradually be extinguished derives indeed much support from the steady progress of the working classes during the 19th century.

We might as well reasonably dispute whether it is the upper or the under blade of a pair of scissors that cuts a piece of paper, as whether value is governed by demand or supply.

In the absence of any short term in common use to represent all desirable things, or things that satisfy human wants, we may use the term Goods for that purpose.

The commercial storm leaves its path strewn with ruin. When it is over there is calm, but a dull, heavy calm.