It is the rate of investment which governs the rate of saving, and not vice versa.
Joan Robinson
A depression is a situation of self-fulfilling pessimism.
pessimism self
Rosa Luxemburg maintained that the capitalist system can keep up its rate of investment (and therefore its profits) only so long as it is expanding geographically.
system
Modern capitalism has no purpose except to keep the show going.
purpose
The purpose of studying economics is not to acquire a set of ready-made answers to economic questions, but to learn how to avoid being deceived by economists.
purpose studying
Marx, however imperfectly he worked out the details, set himself the task of discovering the law of motion of capitalism, and if there is any hope of progress in economics at all, it must be in using academic methods to solve the problems posed by Marx.
progress method
Why did the hunters in the Wealth of Nations exchange beavers for deer?
nations wealth
To supply goods is a source of profit, but to supply services is a ' burden upon industry '. It is for this reason that when, as a nation, ' we have never had it so good ' we find that we ' cannot afford ' just what we most need.
nations
In all the talk in the Principles (as opposed to the formal analysis) it is not the saving of rentiers but the energy of entrepreneurs which governs accumulation.
principles
It is much easier to organize control over one industry serving many markets than over one market served by the products of several industries.
products
vices
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