Millicent Fawcett Quotes

Asking liberals where wages and prices come from is like asking six-year-olds where babies come from.

It is not by the absolute quantity of produce obtained by either class, that we can correctly judge of the rate of profit, rent, and wages, but by the quantity of labour required to obtain that produce.

The scientific study of labor economics provided the opportunity for me to unite theory with evidence my lifetime intellectual passion.

My job was to teach the whole corpus of economic theory, but there were two subjects in which I was especially interested, namely, the economics of mass unemployment and international economics.

As soon, however, as capitalist competition has definitively established the equal rate of profit, that rate becomes the starting point for the calculations of the capitalists in the investment of capital in newly-created branches of production.

I had become interested in economics, an interest that was transformed into a lifetime dedication when I met with the mathematical theory of general economic equilibrium.

Supply creates its own demand

The former apostles of class hatred now begin to preach one of the commonplaces of classic political economy: the quicker capital is developed the more profitable it will be for labor, for it will be so much the easier for the labor that is for hire to find employment.

Supply can create its own demand.

Traditionally in capitalism, when you have more cash, you can fund more activity, which produces more jobs and creates more wealth. That's basic economic theory.

Want and effective demand are not the same thing. If they were, the poorest nations would be the ones to display the most vigorous demand.

What workers must learn is that the only reason why wage rates are higher in the United States is that the per head quota of capital invested is higher.

I don't believe that unemployment is all voluntary, by anticipation of future wage movements or this sort of thing. I know you can modify the models by taking into account the indivisibilities, but I don't really think that people are voluntarily unemployed.

We know that investment causes growth. But it is also true that growth causes investment.

The labour-power is a commodity , not capital, in the hands of the labourer, and it constitutes for him a revenue so long as he can continuously repeat its sale; it functions as capital after its sale, in the hands of the capitalist, during the process of production itself.

Once the idea is accepted that money is something whose supply is determined simply by the printing press, it becomes impossible for the politicians in power to resist the constant demands for further inflation.

Nothing could be further from the truth than the claim that we have a choice between cutting tax and cutting unemployment, for the two go hand in hand.

The idea that high wages equals low employment, it's absurd.

Because the earth is not a product of labour it cannot have a value.

What is economics? A science invented by the upper class in order to acquire the fruits of the labor of the underclass

The price of ability does not depend on merit but on supply and demand.

Where the bourgeois economists saw a relation between things (the exchange of one commodity for another) Marx revealed a relation between people.

You read [Bill ] Maher's book, and he didn't take Econ 101. All his arguments about gasoline, it's not that they're right or wrong - they're just not informed.

The values of commodities are directly as the times of labor employed in their production, and are inversely as the productive powers of the labor employed.

Liberal economists conceive of societies as black boxes connected by exchange rates; as long as exchange rates are correct, what goes on inside the black box is regarded as not very important.