In every age poets and social reformers have tried to stimulate the people of their own time to a nobler life by enchanting stories of the virtues of the heroes of old.

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.

Material goods consist of useful material things, and of all rights to hold, or use, or derive benefits from material things, or to receive them at a future time.

Though a simple book can be written on selected topics, the central doctrines of economics are not simple and cannot be made so.

All wealth consists of desirable things; that is, things which satisfy human wants directly or indirectly: but not all desirable things are reckoned as wealth.

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

Producer's Surplus is a convenient name for the genus of which the rent of land is the leading species.