Unemployment is a reproach to a democratic government.

economics limps along with one foot in untested hypotheses and the other in untestable slogans.

It is the rate of investment which governs the rate of saving, and not vice versa.

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

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.

Marx, however imperfectly he worked out the details, set himself the task of discovering the law of motion of capitalism, and if there is any hope of progress in economics at all, it must be in using academic methods to solve the problems posed by Marx.

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.