10 Lessons from the book Economics in One Lesson

Everything we get, outside of the free gifts of nature, must in some way be paid for.

What is put into the hands of B cannot be put into the hands of A.

A little philosophy inclineth men’s minds to atheism, but depth in philosophy bringeth men’s minds about to religion.

Today is already the tomorrow which the bad economist yesterday urged us to ignore.

Real wealth, of course, consists in what is produced and consumed: the food we eat, the clothes we wear, the houses we live in.

We cannot distribute more wealth than is created. We cannot in the long run pay labor as a whole more than it produces.

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