Progress is slow partly from mere intellectual inertia. In a subject where there is no agreed procedure for knocking out errors, doctrines have a long life. A professor teaches what he was taught, and his pupils, with a proper respect and reverence for teachers, set up a resistance against his critics for no other reason than that it was he whose pupils they were.
It is the business of economists, not to tell us what to do, but show why what we are doing anyway is in accord with proper principles.
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.
Whatever you can rightly say about India, the opposite is also true.
The misery of being exploited by capitalists is nothing compared to the misery of not being exploited at all.
Memorable Quotations: Economists