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

Not only subjective poverty is never overcome by growth, but absolute poverty is increased by it. ... Absolute misery grows while wealth increases.

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.

Utility is a metaphysical concept of impregnable circularity; utility is the quality in commodities that makes individuals want to buy them, and the fact that individuals want to buy commodities shows that they have utility.

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

Whatever you can rightly say about India, the opposite is also true.

economics limps along with one foot in untested hypotheses and the other in untestable slogans.