Producer's Surplus Is A Convenient Name For

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.

I Admit That These Terms And The Diagrams Connected With Them Repel Some Readers, And Fill Others With The Vain Imagination That They Have Mastered Difficult Economics Problems, When Really They Have Done Little More Than Learn The Language In Which Parts Of Those Problems Can Be Expressed, And The Machinery By Which They Can Be Handled. When The Actual Conditions Of Particular Problems Have Not Been Studied, Such Knowledge Is Little Better Than A Derrick For Sinking Oil-wells Erected Where There Are No Oil-bearing Strata.

In The Absence Of Any Short Term In Common Use To Represent All Desirable Things, Or Things That Satisfy Human Wants, We May Use The Term Goods For That Purpose.

The Most Reckless And Treacherous Of All Theorists Is He Who Professes To Let Facts And Figures Speak For Themselves.

All Labour Is Directed Towards Producing Some Effect.