The elimination of profit, whatever methods may be resorted to for its execution, must transform society into a senseless jumble.

Geniuses and prophets do not usually excel in professional learning, and their originality, if any, is often due precisely to the fact that they do not.

One should attend carefully to the fear and desperation of the powerful. They understand very well the potential reach of the “ultimate weapon,” and only hope that those who seek a more free and just...

Despite a voluminous and often fervent literature on “income distribution,” the cold fact is that most income is not distributed: It is earned.

For the same reason a disease cannot be cured by more of the germ that caused it, the inflation and debt accumulation of the Obama years will not inflate our way out of it.

Economics has made good on its promise to deliver prosperity and democratic freedom to much of the world, but in doing away with the age-old problems of humanity, it has opened up a crisis of...

la propriété, c’est le vol!

O sistema de produção privada manipula e intoxica o consumidor. Por requintados mecanismos de alienação publicitários, as aspirações e normas de comportamento das populações são controladas e integradas no sistema. Cria artificialmente, necessidades, modas, marcas,...

Rejection is an opportunity for your selection.

Life is like a curve, horizontally or vertically, we are at origin point

Bad economics teaches that computers can design markets. Good economics teaches that markets can design computers.

Freedom to order our own conduct in the sphere where material circumstances force a choice upon us, and responsibility for the arrangement of our own life according to our own conscience, is the air in...

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...

All types of societies are limited by economic factors. Nineteenth century civilization alone was economic in a different and distinctive sense, for it chose to base itself in a motive rarely acknowledged as valid in...

One of the greatest pieces of economic wisdom is to know what you do not know.

So much barbarism, however, still remains in the transactions of most civilized nations, that almost all independent countries choose to assert their nationality by having, to their inconvenience and that of their neighbors, a peculiar...

Usually when people talk about the trickle-down theory, it has to do with economics. The richer people at the top of a society become, supposedly, the more wealth there is to trickle down to the...

Too large a proportion of recent “mathematical” economics are mere concoctions, as imprecise as the initial assumptions they rest on, which allow the author to lose sight of the complexities and interdependencies of the real...

An artist that makes art merely to meet a demand is a slave to what his patrons wants to see, or, hear.

Rights” are something made up by governments to make you feel like you’re buying something with your taxes.

What good does it do a black youth to know that an employer must pay him $2 an hour if the fact that he must be paid that amount is what keeps him from getting...

Neoclassical economics has effectively insulated itself from the great advances made in science and engineering over the last 40 years. This self-imposed isolation must come to an end. For while the concepts of neoclassical economics...

we deceive ourselves if we believe we can hold on to old models as “ideologies whimper off to a shallow grave in prolonged agony of people, institutions and cultures.

The reason that the rich were so rich, Vimes reasoned, was because they managed to spend less money.Take boots, for example. He earned thirty-eight dollars a month plus allowances. A really good pair of leather...

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”...

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...

(1) Use mathematics as shorthand language, rather than as an engine of inquiry. (2) Keep to them till you have done. (3) Translate into English. (4) Then illustrate by examples that are important in real...

People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices.

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