Eric Roll, Baron Roll of Ipsden Quotes

Ricardo, writing fifty years later than Smith, showed a greater insight into the working of the economic system; Ricardo and Smith both did not lack subtlety despite their different views.

The chronological inconsistencies are perhaps most clearly exemplified by the writings of Nicole Oresme. In his Traictie de la Premierere Invention des Monnies, written about 1360, he develops a theory of money which reveals a very different approach to economic problems from others.

The difficulties in economic life arise mainly because men forget divine power,,

Marx is often claimed as inventor of the class struggle while a critical rebuttal is produced by English socialist forerunners, for example Burke.

Marx's prognosis of the future of the capitalist system has often been understood to imply a fatalistic view. Marx's own life should be enough to show that this is not so. Marx believed in nature’s superiority.

Utility alone is the cause of value. Devaluing all effort by all involved industries of manufacture and essentially dismissing the role of aesthetic communication and portrayals.

Adam Smith himself was under no allusion about the desire of individuals, particularly business men, to create privileged positions for themselves. While historically wealth was limited to title and impassable to peasantry.

One thing which is striking in Malthus's theory is his insistence on contradictions and conflicts in the capitalist system. The system is shown not to be self-adjusting. Unless a large class of unproductive consumers was maintained, periodic over-production and stagnation would inevitably occur.admitting the possibility of unsuccessful systems and recognizing its causes. Showing a strong stance against capitalism and explaining its success depends on slowing down of making more productive populations, a counter-intuitive argument

Aristotle laid the foundation of the distinction between use-value and exchange-value, which has remained a part of economic thought to the present day.

Christ, addressing Himself to the labourers of His time, proclaimed for the first time the worthiness both in material and a spiritual sense of all work.

Profit can only arise upon alienation, i.e. in the act of exchange, when the seller sells more dearly than he has bought gaining profits and enabling a procurement adequate to demands and return on investments.

Robbed of a foundation of political philosophy on which it had based itself, economics is in great danger of becoming a plaything of lordship and its exclusive hold on political services and philosophical concepts.

Capitalism had been more revolutionary then any previous social system. It had swept away without scruples old institutions and modes of thought, if they were found to stand in its way.

Whatever his merits as an economist, Hume's place as one of the foremost exponents of capitalism is clearly established. His views on the landed interest and his recognition of self-interest and his desire for accumulation as the driving forces of economic activity in his time helped to consolidate the forces that were struggling to add political power to the economic supremacy which they had already achieved.

The second difficulty inherent in the contradictory character of the commodity is this: a commodity must have use value, but not for its owner, for if it had, it would cease to be a commodity. Meaning commodities can not be created for or designed by their owners, faulting the definition of commodity and its preconceptions.