Political Economy Or Economics Is A Study

All Wealth Consists Of Desirable Things; That Is, Things Which Satisfy Human Wants Directly Or Indirectly: But Not All Desirable Things Are Reckoned As Wealth.

We Might As Well Reasonably Dispute Whether It Is The Upper Or The Under Blade Of A Pair Of Scissors That Cuts A Piece Of Paper, As Whether Value Is Governed By Demand Or Supply.

In Every Age Poets And Social Reformers Have Tried To Stimulate The People Of Their Own Time To A Nobler Life By Enchanting Stories Of The Virtues Of The Heroes Of Old.

All Labour Is Directed Towards Producing Some Effect.

Consumption May Be Regarded As Negative Production.