the value of a pace,” or competitor, shaves twenty to thirty seconds off the time of a mile. To rigorously test the value of human proximity, he got forty children to compete at spinning fishing...

If economics were only about profit maximization, it would be just another name for business administration. It is a social discipline, and society has other means of cost accounting besides market prices.

We want people to represent us in politics—and in love and economics too. When people represent us fully, they are ourselves and are not ourselves. When an object is simultaneously the same as and different...

We must achieve both security and solvency. In fact, the foundation of military strength is economic strength,

Democracy is supposed to be ‘of the people, by the people and for the people’. Capitalism is ‘of the capitalist, for the capitalist’. Period.

The U.S. stock market was now a class system, rooted in speed, of haves and have-nots. The haves paid for nanoseconds; the have-nots had no idea that nanoseconds had value. The haves enjoyed a perfect...

There is an old saying, or should be, that it is a wise economist who recognizes the scope of his own generalizations.

In the same way that central banking nearly wrecked the world and created one calamity after another, bitcoin can save the world one transaction at a time.It is time for a new beginning.

Since its appearance the view that prostitution is a product of capitalism has gained ground enormously. And as, in addition, preachers still complain that the good old morals have decayed, and accuse modern culture of...

Kita selalu berkaok-kaok tentang sosialisme, tapi tindakan pemerintahan kebalikan dari itu. Harga bensin misalnya, dinaikkan sekaligus 62 kali lipat, tarif gas dan listrik melambung 20 kali, serta harga beras melompat-lompat tak terbeli.

Imagine the big rating agencies as three competitive saloons standing side by side, with each free to set its own drinking age. Before long, nine-year-olds would be downing bourbon

The great hatred of capitalism in the hearts of the oppressed, ancient and modern, I think, stems not merely from the ensuing vast inequality in wealth, and the often unfair and arbitrary nature of who...

Jean-Baptiste Say may have coined the term ‘entrepreneur’ but he totally missed the opportunity to put it on a t-shirt and sell it.

Poverty in western Mexico is an Unconditional Sentence.

In California, the state’s huge dairy herd produces twenty-seven million tons of manure a year, the particulates and vapors from which have helped to make air quality in the argiculturally intensive San Joaquin Valley worse...

A society can be Pareto optimal and still perfectly disgusting.

Why should a financial engineer be paid four, four times… to a hundred times more than the, uh… real engineer?A real engineer build bridges, a financial engineer build, build dreams.And when those dream turn out...

It seems then that instead of consumers’ willingness to pay influencing market prices, the causality is somewhat reversed and it is market prices themselves that influence consumers’ willingness to pay.

In arguing against free enterprise capitalism, the collectivist always adopts the false assumption of a fixed number of jobs in that system. Conversely, in arguing for collectivism, he always assumes that there will be as...