In all the talk in the Principles (as opposed to the formal analysis) it is not the saving of rentiers but the energy of entrepreneurs which governs accumulation.

The nature of technology depends very much upon what the public can be induced to put up with.

The point of studying economics is so as not to be fooled by economists.

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

Reality is never a golden age.

If there is any law governing the distribution of income between classes, it still remains to be discovered.

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.