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

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.

But, as soon as speculators become an important influence in the market, their business is to speculate on each others behaviour.

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.

The only thing worse than being exploited by capitalism is not being exploited by capitalism.

Economic theorists should not make such a production about taking a rabbit out of a hat after having put the rabbit into the hat in full view of the audience.

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