In Truth, The Gold Standard

It Is Preferable To Regard Labour, Including, Of Course, The Personal Services Of The Entrepreneur, And His Assistants, As The Sole Factor Of Production, Operating In A Given Environment Of Technique, Natural Resources, Capital Equipment And Effective Demand. This Is Why We Have Been Able To Take Labour As The Sole Physical Unit Which We Require In Our Economic System, Apart From Units Of Money And Of Time.

He Had One Illusion - France; And One Disillusion - Mankind, Including Frenchmen.

It Is Ideas, Not Vested Interests, Which Are Dangerous For Good Or Evil.

I Expect To See The State, Which Is In A Position To Calculate The Marginal Efficiency Of Capital-goods On Long Views And On The Basis Of The General Social Advantage, Taking An Ever Greater Responsibility For Directly Organizing Investments.

There Is No Intrinsic Reason For The Scarcity Of Capital.