Slavery was regarded by Aristotle as an ordinance of nature, and so probably was it by the slaves themselves in olden time.

Consumption may be regarded as negative production.

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.

Every short statement about economics is misleading (with the possible exception of my present one).

It is common to distinguish necessaries, comforts, and luxuries; the first class including all things required to meet wants which must be satisfied, while the latter consist of things that meet wants of a less urgent character.

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

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