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 an unearthly, mystical element in Friedman's thought. The mere existence of a stock of money somehow promotes expenditure. But insofar as he offers an intelligible theory, it is made up of elements borrowed from Keynes.

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

Rosa Luxemburg maintained that the capitalist system can keep up its rate of investment (and therefore its profits) only so long as it is expanding geographically.

If a rise in wages does not raise prices, a fall will not reduce them.

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.

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