Economists, firstly, regard only one part of man's nature, and treat him simply as a money-making animal; secondly, they disregard the influence of custom, and only take account of competition. Certain laws are laid down under these assumptions; as, for instance, that the rate of wages always tends to an equality, the permanent difference obtaining in various employments being only sufficient to balance the favourable or unfavourable circumstances attending each of them- a law which is only true after a certain stage of civilisation and in so far as the acquisition of wealth is the sole object of men.

The right method in any particular case must be largely determined by the nature of the problem.

The proper limits of Government interference are relative to the nature of each particular state and the stage of its civilisation. It is a matter of great imp…

It would be well if, in studying the past, we could always bear in mind the problems of the present, and go to that past to seek large views of what is of last…

Equal wealth and equal opportunities of culture...have simply made us all members of one class.

If one rejects laissez faire on account of mans fallibility and moral weakness, one must for the same reason also reject every kind of government action. -- Pl…

China has been long one of the richest, that is, one of the most fertile, best cultivated, most industrious, and most populous countries in the world. It seems…