The theory of interest was wrapped in utter obscurity, until Hume and Smith dispelled the vapor.

Political economy has only become a science since it has been confined to the results of inductive investigation.

The entrepreneur shifts economic resources out of an area of lower and into an area of higher productivity and greater yield.

The theory of interest was wrapped in utter obscurity, until Hume and Smith dispelled the vapor.

Alas, how many have been persecuted for the wrong of having been right?

Nothing can be more idle than the opposition of theory to practice!

If one individual, or one class, can call in the aid of authority to ward off the effects of competition, it acquires a privilege and at the cost of the whole community; it can make sure of profits not altogether due to the productive services rendered, but composed in part of an actual tax upon consumers for its private profit' which tax it commonly shares with the authority that thus unjustly lent its support.