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The money received for sales has no other significance or value than its power to buy, and trade can only be imaged truly as an exchange of goods for goods in which the processes of selling and of buying are complementary.

— J. A. Hobson The Morals of Economic Internationalism (1920)

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More quotes by J. A. Hobson

History does not show greed of gain as the motive of the great steps in industrial progress.

The Evolution of Modern Capitalism: A Study of Machine Production (1906)

This new and enlarged edition of The Evolution of Modern Capitalism contains additions and alterations so great as to constitute it in effect a new book.

The Evolution of Modern Capitalism: A Study of Machine Production (1906)

Economic nationalism means protective and discriminative tariffs, and a conservation of national, imperial or allied resources within a circle of favored beneficiaries.

The Morals of Economic Internationalism (1920)

On what a slippery slope ...international morality reposes.

The Morals of Economic Internationalism (1920)

Perhaps the worst of the three fallacies, and in a sense the deepest-rooted, is the concept of export trade as of more value than import trade.

The Morals of Economic Internationalism (1920)

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