Marxism is the opium of the Marxists.

It is much easier to organize control over one industry serving many markets than over one market served by the products of several industries.

Capital' is not what capital is called, it is what its name is called.

When I came up to Cambridge (in October 1921) to read economics, I did not have much idea of what it was about.

A depression is a situation of self-fulfilling pessimism.

There is no such thing as a normal period of history. Normality is a fiction of economic textbooks.

The orthodox doctrines of economics which were dominant in the last quarter of the nineteenth century had a clear message. They supported laisser faire, free trade, the gold standard, and the universally advantageous effects of the pursuit of profit by competitive private enterprise.