"Ken also identified the corporation, not “the market,” as the defining institution of modern economic activity, developing these and related themes both in his teaching and in such widely celebrated books as American Capitalism and The New Industrial State . But his interest in these ideas persisted throughout his life. The central importance of the corporation, and the fear that government was no longer able to provide an adequate countervailing force against corporate influence exerted both legally and otherwise, was the subject of his last book, The Economics of Innocent Fraud ."

“To ask how things are going and whether they can be improved is a constant and inescapable part of the pursuit of justice.”

“Profile in "The Concise Encyclopedia of Economics" in the Library of Economics and Liberty”

“What moves us, reasonably enough, is not the realization that the world falls short of being completely just – which few of us expect – but that there are clearly remediable injustices around us which we want to eliminate.”

“Central to the Smithian approach is our willingness to see critically what we observe around us. The sense of comfort that is often associated with being content with the world as it is can seriously hamper the pursuit of justice. This understanding goes strongly against a line of thought that was powerfully presented by Friedrich Nietzshe. ‘The Christian resolve to find the world ugly and bad has made the world ugly and bad’, said Nietzshe. I think I can, with some effort, understand what Nietzsche meant, but it is hard for me, even with a lot of effort, to see that Nietzshe’s hypothesis helps us to understand the causation or resilience of the nastiness of the world in which we live. Nor, I must insist , does it offer any obvious insight into the lives and achievements of Martin Luther King, or Mother Theresa, or Desmond Tutu, who have tried to reduce injustice in the world and have done so with non-negligible success.”

“I am not persuaded that Hayek got the substantive connections entirely right. He was too captivated by the enabling effects of the market system on human freedoms and tended to downplay - though he never fully ignored - the lack of freedom for some that may result from a complete reliance on the market system, with its exclusions and imperfections, and the social effects of big disparities in the ownership of assets. But it would be hard to deny Hayek's immense contribution to our understanding of the importance of judging institutions by the criterion of freedom.”

“Smith distinguishes with great sophistication the different kinds of reasons people have in taking an interest in the lives of others, separating out sympathy, generosity, public spirit and other motivations. Even though he acknowledged the role of mental attitudes and predispositions, he went on to discuss how reasoning, which is at the heart of rationality, must have a big role in preventing us from being – consciously or unconsciously – too self-centred, or thoughtlessly uncaring.”