“It seems to me more and more that the immense efforts which during the great popularity of macroeconomics over the last thirty or forty years have been devoted to it, were largely misspent, and that if we want to be useful in the future we shall have to be content to improve and spread the admittedly limited insights which microeconomics conveys.I believe it is only microeconomics which enables us to understand the crucial functions of the market process: that it enables us to make effective use of information about thousands of facts of which nobody can have full knowledge.”

Speech at the City of London (17 July 1914), quoted in The Times (18 July 1914), p. 10
Chancellor of the Exchequer

Source: Life of Pythagoras, Ch. 1 : Importance of the Subject
Context: Since wise people are in the habit of invoking the divinities at the beginning of any philosophic consideration, this is all the more necessary on studying that one which is justly named after the divine Pythagoras. Inasmuch as it emanated from the divinities it could not be apprehended without their inspiration and assistance. Besides, its beauty and majesty so surpasses human capacity, that it cannot be comprehended in one glance. Gradually only can some details of it be mastered when, under divine guidance we approach the subject with a quiet mind. Having therefore invoked the divine guidance, and adapted ourselves and our style to the divine circumstances, we shall acquiesce in all the suggestions that come to us. Therefore we shall not begin with any excuses for the long neglect of this sect, nor by any explanations about its having been concealed by foreign disciplines, or mystic symbols, nor insist that it has been obscured by false and spurious writings, nor make apologies for any special hindrances to its progress. For us it is sufficient that this is the will of the Gods, which all enable us to undertake tasks even more arduous than these. Having thus acknowledged our primary submission to the divinities, our secondary devotion shall be to the prince and father of this philosophy as a leader.

Source: Principles of Economics (1998-), Ch. 2. Thinking Like an Economist; p. 27

Source: How to Live on 24 Hours a Day

Source: Aphorisms and Reflections (1901), p. 106

Source: The Self Awakened: Pragmatism Unbound (2007), p. 236-7.

The Ethics of Belief (1877), The Weight Of Authority
Context: What shall we say of that authority, more venerable and august than any individual witness, the time-honoured tradition of the human race? An atmosphere of beliefs and conceptions has been formed by the labours and struggles of our forefathers, which enables us to breathe amid the various and complex circumstances of our life. It is around and about us and within us; we cannot think except in the forms and processes of thought which it supplies. Is it possible to doubt and to test it? and if possible, is it right?
We shall find reason to answer that it is not only possible and right, but our bounden duty; that the main purpose of the tradition itself is to supply us with the means of asking questions, of testing and inquiring into things; that if we misuse it, and take it as a collection of cut-and-dried statements to be accepted without further inquiry, we are not only injuring ourselves here, but, by refusing to do our part towards the building up of the fabric which shall be inherited by our children, we are tending to cut off ourselves and our race from the human line.

Notebooks
Quoted, Notebooks

Source: The Christian Agnostic (1965), p.77-78, (Paul Tillich: The Shaking of the Foundations. 1963. Pelican Books. p. 164