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

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.

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.

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

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