Eric Roll, Baron Roll of Ipsden - Thought Quotes

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The physiocrats started a train of thought which was a powerful stimulus to the development of a labour theory of value and surplus value. They did not, however develop such a theory of value themselves. What attention they gave to the problem of exchange-value and price produced results of an altogether different character. Thus while one of their contributions finds its continuation in Smith, Ricardo, and Marx, the other leads to the post-classical supply and demand and utility theories of value.

Eric Roll, Baron Roll of Ipsden
Marx's prognosis of the future of the capitalist system has often been understood to imply a fatalistic view. Marx's own life should be enough to show that this is not so. Marx did not regard man as the impotent plaything of supernatural; but he thought that man could not ignore the laws of physical nature.

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
Ideas appropriate to a past social order have a strange power of influencing thought and action within a later institutional frame work.

Eric Roll, Baron Roll of Ipsden
Capitalism had been more revolutionary then any previous social system. It had swept away without scruples old institutions and modes of thought, if they were found to stand in its way.

Eric Roll, Baron Roll of Ipsden
Mill sought to strengthen his defence of trade unions not by denying their possible monopoly effects, but by an appeal to the principle of laisser faire itself. To prevent the formation of corporate unions was, he thought, to interfere with a right obviously included in the general rule of freedom of contract.

Eric Roll, Baron Roll of Ipsden