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

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

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.

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

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.

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

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.