Utility is a metaphysical concept of impregnable circularity; utility is the quality in commodities that makes individuals want to buy them, and the fact that individuals want to buy commodities shows that they have utility.

It is a popular error that bureaucracy is less flexible than private enterprise. It may be so in detail, but when large scale adaptations have to be made, central control is far more flexible. It may take two months to get an answer to a letter from a government department, but it takes twenty years for an industry under private enterprise to readjust itself to a fall in demand.

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

owning capital is not a productive activity.

At any moment there is certainly not balanced trade between the various areas of the habitable globe that happens to be under seperate national governments - there is an ever-changing pattern of deficits and surpluses.

It is the business of economists, not to tell us what to do, but show why what we are doing anyway is in accord with proper principles.

Unequal distribution of income is an excessively uneconomic method of getting the necessary saving done.