Everything we get, outside of the free gifts of nature, must in some way be paid for. The world is full of so- called economists who in turn are full of schemes for getting something...

Why do we need so many people on Earth? I ask you. What are they good for? They live out ludicrous lives of pointless desperation. Ninety-nine percent of the human population is so much wasted...

A fellow who once manipulated the money in your wallet but now curses the fellow who does.

The oldest problem in economic education is how to exclude the incompetent. A certain glib mastery of verbiage-the ability to speak portentously and sententiously about the relation of money supply to the price level-is easy...

Here is a principle to use in all aspects of economics and policy. When you find a good or service that is in huge demand but the supply is so limited to the point that...

Used to the conditions of a capitalistic environment, the average American takes it for granted that every year business makes something new and better accessible to him. Looking backward upon the years of his own...

We all know how ‘modern democracies take loaves from the wealthy.’ It’s the slipups in the ‘pass them out to the poor’ department that inspire a study of Economics.

If you hear a “prominent” economist using the word ‘equilibrium,’ or ‘normal distribution,’ do not argue with him; just ignore him, or try to put a rat down his shirt.

secret” is revealed.

There is a contradiction between market liberalism and political liberalism. The market liberals (e.g., social conservatives) of today want family values, less government, and maintain the traditions of society (at least in America’s case). However,...

Labor is sacrificed on the inflation rates altar of oblation.

People and their values are almost infinitely diverse, and people will never agree on many elements of social arrangements that might be subjected to uniform rules of governance. Hence, the greater the scope of strictly...

If you have money but not love you will somehow manage, but if you don’t have both then you are in serious trouble.

In Chapter 5 we consider swindles and defalcations. It happens that crashes and panics often are precipitated by the revelation of some misfeasance, malfeasance, or malversation (the corruption of officials) engendered during the mania. It...

It has been discovered that with a dull urban population, all formed under a mechanical system of State education, a suggestion or command, however senseless and unreasoned, will be obeyed if it be sufficiently repeated.

Freuchen tells how one day, after coming home hungry from an unsuccessful walrus-hunting expedition, he found one of the successful hunters dropping off several hundred pounds of meat. He thanked him profusely. The man objected...

If you invest all your energy in economics, world commerce, parliamentarianism, military engagements, power and power politics, -if you take the quantum of intelligence, seriousness, will, and self-overcoming that you embody and expend it all...

Scholars have long debated whether capital markets lead to appropriate levels of saving and investment for future generations.

In the lean approach, companies are taught that prices are set by the market and that one way to improve profit margin is to reduce costs. This thinking flies in the face of “cost plus”...