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

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

The probability of the people in power being individuals who would dislike the possession and exercise of power is on a level with the probability that an extremely tender-hearted person would get the job of whipping-master in a slave plantation.

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.

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

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

There is no sense in making statements that will not continue to be true after they are made.