Much of what is euphemistically known as the middle class, merely because it dresses up to go to work, is now reduced to proletarian conditions of existence. Many white-collar jobs require no more skill and...

This is the basis for the most important critique of microfinance. The poor are not entrepreneurs. The idea that more than a few will turn tiny loans into a viable business is simply unrealistic.

All political theories assume, of course, that most individuals are very ignorant. Those who plead for liberty differ from the rest in that they include among the ignorant themselves as well as the wisest. Compared...

If the bringing of children into the world is today an economic burden, it is because the social system is inadequate; and not because God’s law is wrong. Therefore the State should remove the causes...

Much else than liberalization has happened in the nineties (in India)

No, young man. What you see is hell with the lid taken off.” — Mother Jones

Adapt and adopt the peer-to-peer and open source models to wider implementation in organisations

People.. were poor not because they were stupid or lazy. They worked all day long, doing complex physical tasks. They were poor because the financial institution in the country did not help them widen their...

unrealistic”; any suggestion for changing the status quo, no matter how slight, can always be considered by someone as too radical, so that the only thoroughgoing escape from the charge of impracticality is never to...

It is irrelevant to the entrepreneur, as the servant of the consumers, whether the wishes and wants of the consumers are wise or unwise, moral or immoral. He produces what the consumers want. In this...

Property monopolized or in the possession of a few is a curse to mankind.

Fearful of wasting a second, we hoard time as if it were money.

Economics is a study of cause-and-effect relationships in an economy. It’s purpose is to discern the consequences of various ways of allocating resources which have alternative uses. It has nothing to say about philosophy or...

No credit–no debt. Credit leads a man into temptation. Cash down is the only thing that will deliver him from evil.

At a conservative estimate, there are probably a million men and women in their twenties and thirties who would happily work long hours doing what most needs to be done, if they were paid something...

This paper was one of my digressions into abstract economics.

… a intervenção é um fenómeno historicamente permanente; sempre existiram formas de intervenção na economia por parte do Estado. O que tem variado é a intensidade e as modalidades dessa intervenção.

They ask – “How much money is too much money?”The answer always is – “A little more!

Americans were happy to celebrate their super-rich and, at least sometimes, worry about their poor. But putting those two conversations together and talking about economic inequality was pretty much taboo.

Have you ever witnessed the anger of the good shopkeeper, James Goodfellow, when his careless son has happened to break a pane of glass? If you have been present at such a scene, you will...

It is one of the saddest spectacles of our time to see a great democratic movement support a policy which must lead to the destruction of democracy and which meanwhile can benefit only a minority...

For every dollar that is spent on the (boondoggle) bridge a dollar will be taken away from taxpayers. If the bridge costs $1,000,000 the taxpayers will lose $1,000, 000. They will have that much taken...

Be they pharaohs or freeholders, barons or farmers, landowners have been the most capable, most intrepid, and most assertive members of civilized society.

Veblen called it the price-system. Mills called it the Power Elite. It’s probably no more than ninety-nine people who don’t know what they are doing. They’re involved in high finance. Fascinating form of gambling.

But there is merit even in the mentally retarded legislator. He asks the questions that everyone is afraid to ask for fear of seeming simple.

do something.” The high-minded reformers experience a glow of triumph and turn their attention to new causes. The interested parties go to work to make sure that the power is used for their benefit. They...

It is true that some secluded intellectuals in their esoteric circles talk differently. They proclaim the priority of what they call eternal absolute values and feign in their declamations—not in their personal conduct—a disdain of...

In the long run we are all dead.

The world’s most primitive people have few possessions, but they are not poor. Poverty is not a certain small amount of goods, nor is it just a relation between means and ends; above all it...

It takes a pillage.

Sooner or later the Internet will become profitable. It’s an old story played before by canals, railroads and automobiles.

An essential pedagogic step here is to relegate the teaching of mathematical methods in economics to mathematics departments. Any mathematical training in economics, if it occurs at all, should come after students have at the...

There is nothing as dangerous as an economist who only knows economics except the moral philosopher who knows no economics.

Look, America is no more a democracy than Russia is a Communist state. The governments of the U.S. and Russia are practically the same. There’s only a difference of degree. We both have the same...

…there were certain chapters when I stopped writing, saw the domestic situation I was in and thought, “I don’t want to face this world, let’s get back to the hellish one I’m imagining.

Apart from the economic value, money does have high moral value.

When we must pay the true price for the depletion of nature’s gifts, materials will become more precious to us, and economic logic will reinforce, and not contradict, our heart’s desire to treat the world...

Knowledge is the best economy we can have.

IMF is really designed to protect creditors not debtors.

The problem with gross domestic product is the gross bit. There are no deductions involved: all economic activity is accounted as if it were of positive value. Social harm is added to, not subtracted from,...

Jacksonville has a rich history, full of poverty, plight, and poor economic decisions. If you follow the phrase “Follow the money” literally, you’d have left town decades ago.

The great weakness of the West is that it has nothing with which to inspire loyalty except wealth. But what is wealth? Another washing machine, a bigger car, a nicer house to live in? Not...

Let us remember that the automatic machine is the precise economic equivalent of slave labor. Any labor which competes with slave labor must accept the economic consequences of slave labor.

That economics has a considerable conceptual apparatus with an appropriate terminology can not be a serious ground for complaint. Economic phenomena, ideas, instruments of analysis exist. They require names. Education in economics is, in considerable...

Growing economies are built by billions of actors behaving according to their own interests, coordinated through institutions that no one in particular created.Realizing this requires humility, a trait that is in short supply among would-be...

There is not the slightest analogy between playing games and the conduct of business within a market society. The card player wins money by outsmarting his antagonist. The businessman makes money by supplying customers with...

Das Spiel ist der Inbegriff demokratischer Lebensart. Es ist die letzt uns verbliebene Seinsform. Der Spieltrieb ersetzt die Religiosität, beherrscht die Börse, die Politik, die Gerichtssäle, die Pressewelt, und er ist es, der uns seit...

Suckers think that you cure greed with money, addiction with substances, expert problems with experts, banking with bankers, economics with economists, and debt crises with debt spending

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What, then, should you do? With an excellent hand, you should bet: You lose nothing if your opponent folds, while giving yourself a good chance of winning a big pot if he calls. But with...