Goods Move In Response To Price Differences

I Have Been....moved To Wonder Whether My Job Is A Job Or A Racket, Whether Economists, And Particularly Economic Theorists, May Not Be In The Position That Cicero, Citing Cato, Ascribed To The Augurs Of Rome-that They Should Cover Their Faces Or Burst Into Laugher When They Met On The Street.

Knowledge Is More A Matter Of Learning Than Of The Exercise Of Absolute Judgment. Learning Requires Time, And In Time The Situation Dealt With, As Well As The Learner, Undergoes Change.

Goods Move In Response To Price Differences From Points Of Low To Points Of Higher Price, The Movement Tending To Obliterate The Price Difference And Come To Rest.

In The Long Run All Producers Are Forced To Use The Most Efficient Methods Or Give Place To Others Who Do.

If All Properly Economic Problems Were Solved Once For All . . . The Social Struggle And Strife Would . . . [not Necessarily] Be Reduced In Amount Or Intensity . . . In The Absence Of Some Moral Revolution Which Could By No Means Be Assumed To Follow In Consequence Of This Change Itself.