Income from property is not the reward of waiting, it is the reward of employing a good stockbroker.

science progresses by trial and error, and when it is forbidden to admit error there can be no progress.

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

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

Ideology is like breath: you never smell your own.

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

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.