It is better to be roughly right than precisely wrong.

A study of the history of opinion is a necessary preliminary to the emancipation of the mind.

The love of money as a possession...will be recognised for what it is, a somewhat disgusting morbidity.

There is no harm in being sometimes wrong - especially if one is promptly found out.

In a regime of Free Trade and free economic intercourse it would be of little consequence that iron lay on one side of a political frontier, and labour, coal, and blast furnaces on the other. But as it is, men have devised ways to impoverish themselves and one another; and prefer collective animosities to individual happiness.

Nothing can preserve the integrity of contact between individuals, except a discretionary authority in the state to revise what has become intolerable. The powers of uninterrupted usury are too great. If the accretions of vested interests were to grow without mitigation for many generations, half the population would be no better than slaves to the other half.

Unlike physics, for example, such parts of the bare bones of economic theory as are expressible in mathematical form are extremely easy compared with the economic interpretation of the complex and incompletely known facts of experience, and lead one a very little way towards establishing useful results.