Eric Roll, Baron Roll of Ipsden - Economic Quotes

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In its origins the utility school was strongly influenced by a desire to strengthen the potentially apologetic character of economics.

Eric Roll, Baron Roll of Ipsden
Ricardo, writing fifty years later than Smith, showed a greater insight into the working of the economic system; but as for the subtlety (whatever demerit there may be in that!) the Scot does not lose by comparison with the Jew.

Eric Roll, Baron Roll of Ipsden
The chronological inconsistencies are perhaps most clearly exemplified by the writings of Nicole Oresme. In his Traictie de la Premierere Invention des Monnies, written about 1360, he develops a theory of money which reveals a very different approach to economic problems from that of his fellow Churchmen.

Eric Roll, Baron Roll of Ipsden
Robbed of a foundation of political philosophy on which (how ever illegitimately) it had based itself, economics is in great danger of becoming a plaything of demagogy.

Eric Roll, Baron Roll of Ipsden
The difficulties in economic life arise mainly because men forget divine power,

Eric Roll, Baron Roll of Ipsden
Aristotle laid the foundation of the distinction between use-value and exchange-value, which has remained a part of economic thought to the present day.

Eric Roll, Baron Roll of Ipsden
One thing which is striking in Malthus's theory is his insistence on contradictions and conflicts in the capitalist system. The system is shown not to be self-adjusting. Unless a large class of unproductive consumers was maintained, periodic over-production and stagnation would inevitably occur. For the first time, in English economic theory at any rate, the possibility of crises arising from causes inherent in the capitalist system was admitted.

Eric Roll, Baron Roll of Ipsden
Whatever his merits as an economist, Hume's place as one of the foremost exponents of capitalism is clearly established. His views on the landed interest and his recognition of self-interest and his desire for accumulation as the driving forces of economic activity in his time helped to consolidate the forces that were struggling to add political power to the economic supremacy which they had already achieved.

Eric Roll, Baron Roll of Ipsden