The manufacturer does not produce shoes because he knows that Jones needs them. He produces because he knows that dozens of traders will buy certain numbers at various prices because they (or rather the retailer they serve) know that thousands of Joneses, whom the manufacturer does not know, want to buy them.

I have come to feel strongly that the greatest service I can still render to my fellow men would be that I could make the speakers and writers among them thoro…

Socialism is simply a re-assertion of that tribal ethics whose gradual weakening had made an approach to the Great Society possible.

In the Small group the individual can know the effects of his actions on his several fellows, and the rules may effectively forbid him to harm them in any mann…

Consumption is the sole end and purpose of all production; and the interest of the producer ought to be attended to, only so far as it may be necessary for pro…

The reason why the foreign producer gets his produce to market cheaper, relatively, is this-that foreign produce is collected and brought in such large quantit…

If an exchange between two parties is voluntary, it will not take place unless both believe they will benefit from it. Most economic fallacies derive from the …