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

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

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).

Consumption may be regarded as negative production.

The price of every thing rises and falls from time to time and place to place; and with every such change the purchasing power of money changes so far as that thing goes.

Individual and national rights to wealth rest on the basis of civil and international law, or at least of custom that has the force of law.