Will’s Reviews > Principles of Economics > Status Update

"Competition leads ... to large scale production with its tendency to make many small profits and with its high degree of economy, since the smaller the profit on each unit the more dangerous becomes every uneconomic waste, and the brisker the competition the less possible becomes an unthinking continuation of business according to old-established methods."
Page 225

"According to whether the importance of the given satisfaction to us, in a case such as this, is greater or smaller, the value of the particular good to us will be greater or smaller." Page 129

"Nor does the fact that a thing is a product of labor by itself necessarily result in its having goods-character, let alone economic character. Hence the labor expended in the production of labor expended in the production of labor a good cannot be criterion of economic character."
Page 102

"Experience tells us that many goods on which no labor was expended display economic character whenever they are available in quantities that do not meet our requirements."
Page 102

"In towns situated on rivers with more water than is wanted by the inhabitants for the satisfaction of their needs. In virgin forests, everyone fetches unhindered the quantity of timber he needs. And everyone admits as much light and air into his house as he thinks proper. This communism is as naturally founded upon a non-economic relationship as property is founded upon one that is economic."
Page 100-101