"Both in England and on the Continent a graduated property tax (l'impôt progressif) has been advocated, on the avowed ground that the state should use the instrument of taxation as a means of mitigating the inequalities of wealth. I am as desirous as any one that means should be taken to diminish those inequalities, but not so as to relieve the prodigal at the expense of the prudent.To tax the larger incomes at a higher percentage than the smaller is to lay a tax on industry and economy; to impose a penalty on people for having worked harder and saved more than their neighbours. It is not the fortunes which are earned, but those which are unearned, that it is for the public good to place under limitation."

"Landlords... grow richer, as it were in their sleep, without working, risking, or economizing."

"There is room in the world, no doubt, and even in old countries, for a great increase of population, supposing the arts of life to go on improving, and capital to increase. But even if innocuous, I confess I see very little reason for desiring it. The density of population necessary to enable mankind to obtain, in the greatest degree, all the advantages both of co-operation and of social intercourse, has, in all the most populous countries, been attained. If the earth must lose that great portion of its pleasantness which it owes to things that the unlimited increase of wealth and population would extirpate from it, for the mere purpose of enabling it to support a larger but not a better or a happier population, I sincerely hope, for the sake of posterity, that they will be content to be stationary, long before necessity compels them to it.."

"The best state for human nature is that in which, while no one is poor, no one desires to be richer, nor has any reason to fear being thrust back by the efforts of others to push themselves forward."

"Under the rule of individual property, the division of the produce is the result of... Competition and Custom. ...Political economists generally... lay almost exclusive stress upon the first... to exaggerate the effect of competition, and to take little account of the other... conflicting principle. ...[O]nly through the principle of competition has political economy any pretension to the character of a science. So far as rents, profits, wages, prices, are determined by competition, laws may be assigned to them. ...But it would be a great misconception of the actual course of human affairs, to suppose that competition exercises in fact this unlimited sway. I am not speaking of monopolies, either natural or artificial, or of any interferences of authority with the liberty of production or exchange. Such disturbing causes have always been allowed for by political economists. ...Competition ...has only become in any considerable degree the governing principle of contracts, at a comparatively modern period. The farther back we look back into history, the more we see all transactions and engagements under the influence of fixed customs. ...To the industrious population, in a turbulent military community, freedom of competition is a vain phrase... there is always a master who throws his sword into the scale, and the terms are such as he imposes. But though the law of strongest decides... every relaxation of it has a tendency to become a custom, and every custom to become a right. Rights... and not competition... determine, in a rude state of society, the share of the produce enjoyed by those who produce it."

"It appears... that a work similar in its object and general conception to that of Adam Smith, but adapted to the more extended knowledge and improved ideas of the present age, is the kind of contribution which Political Economy at present requires. The Wealth of Nations is in many parts obsolete, and in all, imperfect. Political Economy... has grown up almost from infancy since the time of Adam Smith; and the philosophy of society... has advanced many steps beyond the point at which he left it."

"When we consider the positive evil caused to the disqualified half of the human race by their disqualification — first in the loss of the most inspiriting and elevating kind of personal enjoyment, and next in the weariness, disappointment, and profound dissatisfaction with life, which are so often the substitute for it; one feels that among all the lessons which men require for carrying on the struggle against the inevitable imperfections of their lot on earth, there is no lesson which they more need, than not to add to the evils which nature inflicts, by their jealous and prejudiced restrictions on one another. Their vain fears only substitute other and worse evils for those which they are idly apprehensive of: while every restraint on the freedom of conduct of any of their human fellow-creatures (otherwise than by making them responsible for any evil actually caused by it), dries up pro tanto the principal fountain of human happiness, and leaves the species less rich, to an inappreciable degree, in all that makes life valuable to the individual human being."

"The tendency has always been strong to believe that whatever received a name must be an entity or thing, having an independent existence of its own; and if no real entity answering to the name could be found, men did not for that reason suppose that none existed, but imagined that it was something peculiarly abstruse and mysterious, too high to be an object of sense. The meaning of all general, and especially of all abstract terms, became in this way enveloped in a mystical base..."

"What, in unenlightened societies, colour, race, religion, or in the case of a conquered country, nationality, are to some men, sex is to all women; a peremptory exclusion from almost all honourable occupations, but either such as cannot be fulfilled by others, or such as those others do not think worthy of their acceptance."