Goods move in response to price differences from points of low to points of higher price, the movement tending to obliterate the price difference and come to rest.

It is true practically if not altogether without exception that the changes studied by any science tend to equilibrate or neutralize the forces which bring them about, and finally to come to rest.

I have been....moved to wonder whether my job is a job or a racket, whether economists, and particularly economic theorists, may not be in the position that Cicero, citing Cato, ascribed to the augurs of Rome-that they should cover their faces or burst into laugher when they met on the street.

...even professors of economics, to say nothing of the public, do not generally have scientific minds.

We have to adapt and overcome, that's all we can do.

Large scale collective bargaining . . . is merely a seductive name for bilateral monopoly, and means either adjudication of conflicts in terms of power, or deadlock and stoppage, usually injuring outside people more than the immediate parties to the dispute.

Goods move in response to price differences from points of low to points of higher price, the movement tending to obliterate the price difference and come to rest.