Do you understand economics? I mean big-time, prewar, global capitalism. Do you get how it worked? I don’t, and anyone who says they do is full of shit.

An economist is an expert who will know tomorrow why the things he predicted yesterday didn’t happen today.

The artificial primacy of defense among our national priorities is a constant unearned windfall for some, but it’s privation for the rest of America; it steals from what we could be and can do. In...

The financial markets are not to be trusted. They expect to be given free reign to make huge profits while the sun is shining, but hasten to the shelter of the state when the skies...

It [economics] is the study of how people, companies, and societies allocate scarce resources. Which happens to be the same puzzle you and your spouse are perpetually trying to solve: how to spend your limited...

…If you look at mainstream economics there are three things you will not find in a mainstream economic model – Banks, Debt, and Money. How anybody can think they can analyze capital while leaving out...

These are tough times for state governments. Huge deficits loom almost everywhere, from California to New York, from New Jersey to Texas.Wait—Texas? Wasn’t Texas supposed to be thriving even as the rest of America suffered?...

NAUGHTY AND NICE? said Death. BUT IT’S EASY TO BE NICE IF YOU’RE RICH. IS THIS FAIR?Albert wanted to argue. He wanted to say, Really? In that case, how come so many of the rich...

One who criticises capitalism while approving of immigration, of which the working class is its first victim, would do better to remain silent. One who criticises immigration while remaining silent regarding capitalism should do the...

We could manage to survive without money changers and stockbrokers. We should find it harder to do without miners, steel workers and those who cultivate the land

Once you realize that trickle-down economics does not work, you will see the excessive tax cuts for the rich as what they are — a simple upward redistribution of income, rather than a way to...

The test of a progressive policy is not private but public, not just rising income and consumption for individuals, but widening the opportunities and what Amartya Sen calls the ‘capabilities’ of all through collective action....

Our hopes of avoiding the fate which threatens must…[be to make]adjustments that will be needed if we are to recover and surpass our former standards…and only if every one of us is ready to individually...

We have not noticed how fast the rest has risen. Most of the industrialized world–and a good part of the nonindustrialized world as well–has better cell phone service than the United States. Broadband is faster...

One of the Great Rules of Economics According to John GreenIf you are rich, you have to be an idiot not to stay rich. And if you are poor, you have to be really smart...

Talent, just like gold or any other precious commodity is subject to the same demand & supply economics

The man who is admired for the ingenuity of his larceny is almost always rediscovering some earlier form of fraud. The basic forms are all known, have all been practiced. The manners of capitalism improve....

There is one and only one social responsibility of business–to use it resources and engage in activities designed to increase its profits so long as it stays within the rules of the game, which is...

Therefore it is not arrogance or narrow-mindedness that leads the economist to discuss these things from the standpoint of economics. No one, who is not able to form an independent opinion about the admittedly difficult...

1 billion people in the world are chronically hungry. 1 billion people are overweight.

Economics make homeopath and alternative healers look empirical and scientific.

Your money myth affects your gain and luck.In economics, illusion of money affects wealth.

The quasi-peaceable gentleman of leisure, then, not only consumes of the staff of life beyond the minimum required for subsistence and physical efficiency, but his consumption also undergoes a specialisation as regards the quality of...

When Republicans recently charged the President with promoting ‘class warfare,’ he answered it was ‘just math.’ But it’s more than math. It’s a matter of morality.Republicans have posed the deepest moral question of any society:...

As if it were Injustice to sell dearer than we buy; or to give more to a man than he merits. The value of all things contracted for, is measured by the Appetite of the...

If a theory of justice is to guide reasoned choice of policies, strategies or institutions, then the identification of fully just social arrangements is neither necessary nor sufficient.

The markets make a good servant but a bad master, and a worse religion.

What should have died along with communism is the belief that modern societies can be run on a single principle, whether that of planning under the general will or that of free-market allocations.

Poverty can be brought about by law; it cannot be forbidden by law.

In our time, the curse is monetary illiteracy, just as inability to read plain print was the curse of earlier centuries.

Homo economicus was surreptitiously taken as the emblem and analogue for all living beings. A mechanistic anthropomorphism has gained currency. Bacteria are imagined to mimic “economic” behavior and to engage in internecine competition for the...

Nul ne conteste l’appartenance de cette savane au Brésil et son droit d’en user comme bon lui semble. La querelle ne surgit que plus haut vers le nord. Une belle question de droit international: à...

and Mr. Mayor, tonight I will be a citizen of this city when I put my shoes under my bed. The courageous men, women and children who are with me (blocked from crossing the bridge...

The only inexplicable aspect of the process was that economic theory (which is, after all, what economics students were supposed to know) served almost no function in an investment bank. The bankers used economics as...

La mayoría nos formulamos la pregunta “,Qué gano yo si lo hago?” más habitual de lo que nos interrogamos si “,Es lo que estoy haciendo moral o correcto en términos políticos?”.[…] en ninguna otra época...

What is a price? It is a proposed point of agreement between a buyer and seller. The proposal is the key. It is not a marching order. Past prices represent deals done in history. Current...

Praxeology is a theoretical and systematic, not a historical, science. Its scope is human action as such, irrespective of all environmental, accidental, and individual circumstances of the concrete acts. Its cognition is purely formal and...

One of the most momentous, yet all but invisible, psychological changes in human history has been the intensification of a sense of insecurity and alienation from the world around us that arose when we became...

Neoclassical economics is precisely the theory one would expect a vastly complex system of international corporations, world markets, and interconnected currencies to create to sustain, justify, explain, and predict “itself.” And classical economics, correspondingly, was...

There are three laws that govern our universe – laws of physics, laws of nature, and spiritual laws. Like the laws of physics and nature, spiritual laws are just as precise as any mathematics equation.

There ain’t no such thing as a free lunch.

Economics. “Something humans invented and then lost control of, it isn’t real, it’s not like gravity and we could evolve the economic process to make sense, but can’t because we would all lose money if...

The industrial mind is a mind without compunction; it simply accepts that people, ultimately, will be treated as things and that things, ultimately, will be treated as garbage. (A Defense of the Family Farm, 1986)

The rich feel much less need than their predecessors to account for their wealth, whether to society, to governments or to God. Their attitudes and values are not seriously challenged by anyone. The respect now...

State ownership! It leads only to absurd and monstrous conclusions; state ownership means state monopoly, concentrated in the hands of one party and its adherents, and that state brings only ruin and bankruptcy to all.

An economic system which can only expand or expire must be false to all that is human.

Greenspan advised the American people to buy – he repeated the old mantra: ‘spending is patriotic’. He also managed to convince them that if they did not have the money, that shouldn’t stop them. They...

The disdain of profit is due to ignorance, and to an attitude that we may if we wish admire in the ascetic who has chosen to be content with a small share of the riches...

Nothing is easier to achieve than full employment, once it is divorced from the goal of full production and taken as an end in itself

Environmental degradation is an iatrogenic disease induced by economic physicians who treat the basic malady of unlimited wants by prescribing unlimited growth…. Yet one certainly does not cure a treatment-induced disease by increasing the treatment...