I do not regard the Keynesian revolution as a great intellectual triumph. On the contrary, it was a tragedy because it came so late. Hitler had already found out how to cure unemployment before Keynes had finished explaining why it occured.

One of the main effects (I will not say purposes) of orthodox traditional economics was ... a plan for explaining to the privileged class that their position was morally right and was necessary for the welfare of society.

A sure sign of a crisis is the prevalence of cranks. It is characteristic of a crisis in theory that cranks get a hearing from the public which orthodoxy is failing to satisfy.

The fundamental differences between Marxian and traditional orthodox economics are, first, that the orthodox economists accept the capitalist system as part of the eternal order of Nature, while Marx regards it as a passing phase in the transition from the feudal economy of the past to the socialist economy of the future.

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

The first essential for economists ... is to ... combat, not foster, the ideology which pretends that values which can be measured in terms of money are the only ones that ought to count.

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