And very often the influence exerted on a person's character by the amount of his income is hardly less, if it is less, than that exerted by the way in which it is earned.

But if inventions have increased man's power over nature very much, then the real value of money is better measured for some purposes in labour than in commodities.

The modern developments of economic science in relation to rent indicate progress. For we are learning that what is commonly called the rent of land is really a very complex thing made up of many elements, some of which differ more widely from one another than it, as a whole, differs from profits, or than some elements of it differ from wages.

Economics has as its purpose firstly to acquire knowledge for its own sake, and secondly to throw light on practical issues. But though we are bound, before entering on any study, to consider carefully what are its uses, we should not plan out our work with direct reference to them.

Capital is that part of wealth which is devoted to obtaining further wealth

Capital is that part of wealth which is devoted to obtaining further wealth.