At any moment there is certainly not balanced trade between the various areas of the habitable globe that happens to be under seperate national governments - there is an ever-changing pattern of deficits and surpluses.

Capital' is not what capital is called, it is what its name is called.

The purpose of studying economics is not to acquire a set of ready-made answers to economic questions, but to learn how to avoid being deceived by economists.

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

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

A depression is a situation of self-fulfilling pessimism.