In the long run all producers are forced to use the most efficient methods or give place to others who do.

The possibility of saying anything about a thing rests on the assumption that it preserves its identity, or continues to be the same thing in the respect described, that it will behave in future situations as it has in past.

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

Always history is being made; opinions attitudes and institutions change, and there is evolution in the nature of capitalism

Knowledge is more a matter of learning than of the exercise of absolute judgment. Learning requires time, and in time the situation dealt with, as well as the learner, undergoes change.

All science is static in the sense that it describes the unchanging aspects of things.

The truth seems . . . to be that in the ultimate and essential problem the economic factor is relatively superficial and unimportant.