economic theory quotes

Even if the government spends itself into bankruptcy and the economy still does not recover, Keynesians can always say that it would have worked if only the government had spent more.

Capital is dead labor, which, vampire-like, lives only by sucking living labor, and lives the more, the more labor it sucks.

The more the division of labor and the application of machinery extend, the more does competition extend among the workers, the more do their wages shrink together.

In the simplest terms, inflation occurs when there’s too much money in the system. On the flip side, deflation occurs when there are too few dollars in circulation.

Economists treat economics as if it is a pure science divorced from the facts of life. The result of this false accountancy is a willful confusion under cover of which industry wreaks its havoc scot-free and ignores the environmental cost.