When changes in factors other than a good’s own price affect the quant — Economics (textbook)

"What good does it do a black youth to know that an employer must pay him $2 an hour if the fact that he must be paid that amount is what keeps him from getting a job?"

"If it doesn’t make good sense, it isnt good economics."

"A historian of mainstream-economic doctrines, like a paleontologist who studies the bones and fossils in different layers of earth, could date the ebb and flow of ideas by analyzing how Edition 1 was revised to Edition 2 and, eventually, to Edition 16."

"History — at least economic history — has taught the world certain basic economic principles that have been learned and tested the hard way."

"I don’t care who writes a nation’s laws—or crafts its advanced treaties—if I can write its economics textbooks."

"An increased desire to consume — which is another way of looking at a decreased desire to save — is likely to boost business sales and increase investment. On the other hand, a decreased desire to consume — i.e., an increase thriftness — is likely to reduce inflationary pressure in times of booming incomes; but in time of depression, it could make the depression worse and reduce the amount of actual net capital formation in the community. High consumption and high investment are then hand in hand rather than opposed to each other."