It is a great law of social development that the movement from slavery to freedom is also a movement from security to insecurity of maintenance. - Arnold Toynbee

You must pursue facts for their own sake, but penetrated with a vivid sense of the problems of your own time. This is not a principle of perversion, but a principle of selection. You must have some principle of selection, and you could not have a better one than to pay special attention to the history of the social problems which are agitating the world now, for you may be sure that they are problems not of temporary but of lasting importance.

Economists, firstly, regard only one part of man's nature, and treat him simply as a money-making animal; secondly, they disregard the influence of custom, and only take account of competition. Certain laws are laid down under these assumptions; as, for instance, that the rate of wages always tends to an equality, the permanent difference obtaining in various employments being only sufficient to balance the favourable or unfavourable circumstances attending each of them — a law which is only true after a certain stage of civilisation and in so far as the acquisition of wealth is the sole object of men.

In the middle of the last century there was comparatively little movement of workmen from place to place; but Adam Smith's fierce attack on the law of settlement shows that migration was on the increase. The world was, in fact, on the eve of an industrial revolution; and it is interesting to remember that the two men who did most to bring it about, Adam Smith and James Watt, met, as I have mentioned, in Glasgow, when one was dreaming of the book, and the other of the invention, which were to introduce a new industrial age.