Great Throughts Treasury

"Knowledge is the only instrument of production that is not subject to diminishing returns."

"Experience alone can give a final answer. The knowledge gained in a few years by a commission of the kind suggested would be worth more than volumes of mere assertions and contradictions."

"The market tends to pay as a wage what an individual laborer is worth. But the case last studied suggests the question how accurately the law operates in practice. May it not be an honest law, but be so vitiated in its working as to give a dishonest result? "

"When we say that the persistence of competition is ensured by fate, we mean that individual freedom is so guaranteed. The one thing to which fate binds us is liberty."