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.

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.

The most reckless and treacherous of all theorists is he who professes to let facts and figures speak for themselves.

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

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

But if inventions have increased man's power over nature very much, then the real value of money is better measured for some purposes in labour than in commodities.

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