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Sector-specific price declines, uncomfortable as they may be for producers in that sector, are generally not a problem for the economy as a whole and do not constitute deflation.

But a rise in the wages of labour would not equally affect commodities produced with machinery quickly consumed, and commodities produced with machinery slowly consumed.

There can be no rise in the value of labour without a fall of profits.

It is economically irrational to exclude large environmental costs from the balance sheets of the producers and the consumers. You are only kidding yourself if you export those costs on to society as a whole.

For a variety of reasons, we are not producing at a given level of economic activity the jobs we used to have.

We have to find alternative ways of producing our raw materials without asking nature to do it for us.

I think that there is absolutely no free market in modern industrial states.

I really do not make deals.

Production is the only answer to inflation.