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.

Even if the crises that are looming up are overcome and a new run of prosperity lies ahead, deeper problems will still remain. Modern capitalism has no purpose except to keep the show going.

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

Income from property is not the reward of waiting, it is the reward of employing a good stockbroker.

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.

Where is the pricing system that offers the consumer a fair choice between air to breathe and motor cars to drive about in?

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.