The most fundamental form of integrative power is the power of love.

Political conflict rests to a very large extent on a universal ignorance of consequences, as the people who are benefited by any particular act or policy are rarely those who struggled for it, and the people who are injured are rarely those who opposed it.

The most fundamental form of integrative power is the power of love.

The discounting presumably is to be done for each period of time at that rate of interest which represents the alternative cost of employing capital in the occupation in question; that is, at the rate which the entrepreneur could obtain in other investments

We should always bear in mind that numbers represent a simplification of reality.

Economic problems have no sharp edges. They shade off imperceptibly into politics, sociology, and ethics. Indeed, it is hardly an exaggeration to say that the ultimate answer to every economic problem lies in some other field.

Economics, we learn in the history of thought, only became a science by escaping from the casuistry and moralizing of medieval thought.