"Whereas politics seemed vague, rambling and subjective, science was analytic, systematic and objective. Economics therefore combines the virtues of politics and science."
"Labor market, like all markets, is subject to the forces of supply and demand."
"An economy's income is the economy's output."
"Can good news for farming be bad news for farmers?"
"Workers unemployed for many months are most likely to suffer economic and psychological hardship."
"The principle of comparative advantage shows that trade can make everyone better off."
"Suppose that the world's fastest typist happens to be trained in brain surgery. Should he do his own typing or hire a secretary?"
"Determinants of productivity: physical capital, human capital, natural resources, and technological knowledge."
