science progresses by trial and error, and when it is forbidden to admit error there can be no progress..

Progress is slow partly from mere intellectual inertia. In a subject where there is no agreed procedure for knocking out errors, doctrines have a lon….

Marxism is the opium of the Marxists..

The point of studying economics is so as not to be fooled by economists..

If a rise in wages does not raise prices, a fall will not reduce them..

One of the main effects (I will not say purposes) of orthodox traditional economics was ... a plan for explaining to the privileged class that their ….

There is an unearthly, mystical element in Friedman's thought. The mere existence of a stock of money somehow promotes expenditure. But insofar as he….

Reality is never a golden age..

It is the business of economists, not to tell us what to do, but show why what we are doing anyway is in accord with proper principles..

Ideology is like breath: you never smell your own..

It's a terrible thing to be a worker exploited in the capitalist system. The only worse thing is to be a worker unable to find anyone to exploit you..

The purpose of studying economics is not to acquire a set of ready-made answers to economic questions, but to learn how to avoid being deceived by ec….

Capitalism with near-full employment was an impressive spectacle. But a growth in wealth is not at all the same thing as reducing poverty. A universa….

The first essential for economists ... is to ... combat, not foster, the ideology which pretends that values which can be measured in terms of money ….

An economy may be in equilibrium from a short-period point of view and yet contain within itself incompatibilities that are soon going to knock it ou….

Voltaire remarked that it is possible to kill a flock of sheep by witchcraft if you give them plenty of arsenic at the same time. The sheep, in this ….

I do not regard the Keynesian revolution as a great intellectual triumph. On the contrary, it was a tragedy because it came so late. Hitler had alrea….

It is a popular error that bureaucracy is less flexible than private enterprise. It may be so in detail, but when large scale adaptations have to be ….

Whatever you can rightly say about India, the opposite is also true..

Unemployment is a reproach to a democratic government..

Where is the pricing system that offers the consumer a fair choice between air to breathe and motor cars to drive about in?.