Where is the pricing system that offers the consumer a fair choice between air to breathe and motor cars to drive about in?

owning capital is not a productive activity.

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

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.

Whatever you can rightly say about India, the opposite is also true.

One of the main effects (I will not say purposes) of orthodox traditional economics was ... a plan for explaining to the privileged class that their position was morally right and was necessary for the welfare of society.

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.