Quotes of All Topics . Occasions . Authors
One of the key problems is that the Germans know what they do because everywhere they go there's a 'made in Germany' label on it - they can feel proud of Volkswagens and Audis and Mercedes.
There is only one '' principle that can preserve a free society: namely, the strict prevention of all coercion except in the enforcement of general abstract rules equally applicable to all.
My work on human capital began with an effort to calculate both private and social rates of return to men, women, blacks, and other groups from investments in different levels of education.
And yet I would not freely exchange my science for those of my fellow laureates. They are forever confined in their professional discussions to the small numbers of their fellow scientists.
Instead of reading a paper, we now read the news online. Instead of buying books at a store, we buy them on-line. What's so revolutionary? The Internet has mainly affected our leisure life.
A 'social justice' society is a conflict which locks beneficiaries and victims alike in a struggle without end. It becomes a society torn apart by resentment over the wealth of capitalists.
Government is rather ill-suited and poorly equipped to alleviate the plight of the poor. It lacks moral rules or standards, and is devoid of basic principles in economic and social matters.
It's like a crapshoot in Las Vegas, except in Las Vegas the odds are with the house. As for the market, the odds are with you, because on average over the long run, the market has paid off.
Productivity depends on many factors, including our workforce's knowledge and skills and the quantity and quality of the capital, technology, and infrastructure that they have to work with.
Perhaps never before or since have so many people taken the measure of economic prospects and found them so favorable as in the two days following the Thursday [24th October 1929] disaster.
Never in history was there a method devised of such efficacy for setting each country's advantage at variance with its neighbours' as the international gold (or, formerly, silver) standard.
That which is inherently nonfinanceable is financed. That which is inherently financeable is not financed. And the illogic of poverty amidst eagerness and ability to produce plenty goes on.
Technology plows through history at an accelerating rate, shifting the burden of production off labor into the nonhuman factor because man uses his highest ingenuity to avoid servile labor.
I think a major reason why intellectuals tend to move towards collectivism is that the collectivist answer is a simple one. If there's something wrong, pass a law and do something about it.
The fall of the Berlin Wall really demonstrated beyond the shadow of a doubt that there was a bad system, and what subsequently happened in the Soviet Union, that that system was a failure.
The one thing that’s missing, but that will soon be developed, is a reliable e-cash, a method whereby on the Internet you can transfer funds from A to B, without A knowing B or B knowing A.
If you wish to know how libertarians regard the State and any of its acts, simply think of the State as a criminal band, and all of the libertarian attitudes will logically fall into place.
The contemporary political scientist believes that he can avoid the necessity of moral judgments and that he can help frame public policy without committing himself to any ethical position.
There is no need for government to intervene in money and prices because of changing population or for any other reason. The 'problem' of the proper supply of money is not a problem at all.
My career in academic research has not been involved with active management of securities. I've tried to understand risk-and-return relationships; also the pricing of derivative securities.
Western capitalism is a looting mechanism. It loots labor. It loots the environment, and with the transpacific and transatlantic 'partnerships,' it will loot the sovereign law of countries.
The gains from specialization go all the way back to Adam Smith. He talked about the advantage of a bigger market being that we could have a finer division of labor and be more specialized.
In a democracy, if a government creates bad policies, it can be voted out of office. Competition in the private sector, however, can easily work to encourage phishing rather than stifle it.
Habits are formed, not at one stroke, but gradually and insensibly; so that, unless vigilant care be employed, a great change may come over the character without our being conscious of any.
As an exercise of the reasoning faculties, pure mathematics is an admirable exercise, because it consists of reasoning alone and does not encumber the student with any exercise of judgment.
Ironically, in the full-fledged transfer society, where governments busy themselves redistributing income by means of hundreds of distinct programs, hardly anyone is better off as a result.
There is no doubt that the recognition by economists of the importance of the role of the firm in the functioning of the economy will prompt them to investigate its activities more closely.
There are 3 questions that would destroy most of the arguments of the Left. The first is - compared to what? The second is - at what cost? And the third is - what hard evidence do you have?
Creating whole departments of ethnic, gender, and other 'studies' was part of the price of academic peace. All too often, these 'studies' are about propaganda rather than serious education.
Rich countries don't need as many children. We used to need kids to work in the fields as farm hands, to crawl on their bellies into coal mines. Well, kids are more like luxury objects now.
Prior to capitalism, the way people amassed great wealth was by looting, plundering and enslaving their fellow man. Capitalism made it possible to become wealthy by serving your fellow man.
Unceasing change turns the wheel of life, and so reality is shown in all it's many forms. Dwell peacefully as change itself liberates all suffering sentient beings and brings them great joy.
If I discover a manure which will enable me to make a piece of land produce 20 per cent more corn, I may withdraw at least a portion of my capital from the most unproductive part of my farm.
In listing these tendencies making for a new world, we must not forget developments in the religious or spiritual thinking and feeling of mankind, where also we feel a strong unifying trend.
Men don't know much about women. We do know when they're happy. We know when they're crying, and we know when they're pissed off. We just don't know in what order these are gonna come at us.
Energy is significantly underpriced in many parts of the world, leading to wasteful consumption, price volatility and fuel smuggling. It's also undermining the competitiveness of renewables.
Nowhere has democracy ever worked well without a great measure of local self-government, providing a school of political training for the people at large as much as for their future leaders.
In Oxford before the war, I had, with this interest in mind, written a short textbook entitled, An Introduction to Economic Analysis and Policy. It was now my intention to rewrite this work.
I would be strongly committed to working with the FOMC to continue promoting a robust economic recovery ... I consider it imperative that we do what we can to promote a very strong recovery.
It certainly would be helpful going forward for deficit reduction efforts to focus on the medium term while not subtracting from the impetus we need to keep a fragile economy moving forward.
America's government is not even aware of the gap between its commitments and action, because almost nobody in authority understands the actions that would be needed to meet the commitments.
There's a lot of strength in the U.S., but there's a lot of froth also. The froth will blow off. We're going to have to face up to some realities that we're not fully facing up to right now.
Even if the crises that are looming up are overcome and a new run of prosperity lies ahead, deeper problems will still remain. Modern capitalism has no purpose except to keep the show going.
Health care is very different from other sectors of the economy in several respects, one of which is the fact that the risk can be very high beyond people's ability. That leads to insurance.
What most Americans mean when they say "the end of the recession" is, "When will it be back to normal? When can we get jobs? When will the employment rate be back to 4 percent or 5 percent?"
I went to Amherst because my brother had gone there before me, and he went there because his guidance counselor thought that we would do better there than at a large university like Harvard.
It's very clear that TPP was promoted by corporate interests, it was driven by ideology, not by economic science. And when they started looking at the net trade benefits, they are miniscule.
Most people in this country, while they might not be happy about things, also are woefully ignorant about many things. Sometimes people can learn, but other times they have to be confronted.
The central banks cannot control interest rates. That's a mistake. They can control a particular rate, such as the Federal Funds rate, if they want to, but they can't control interest rates.
I think there is universal agreement within the economics profession that the decline - the sharp decline in the quantity of money played a very major role in producing the Great Depression.