Quotes of All Topics . Occasions . Authors
Hong Kong is the bellwether. If the Chinese stick to their agreement to let Hong Kong go its own path, then China will also go that way. If they don't, that is a very bad sign. I'm optimistic.
The only way that has ever been discovered to have a lot of people cooperate together voluntarily is through the free market. And that's why it's so essential to preserving individual freedom.
It is true that a competitive market is not the whole of society. A great deal depends on the qualities of the population and the nation in how they organize the non-market aspects of society.
The natural law is, in essence, a profoundly 'radical' ethic, for it holds the existing status quo, which might grossly violate natural law, up to the unsparing and unyielding light of reason.
In the jargon of American vaudeville, Professors Frisch and Tinbergen are a 'hard act to follow.' But then, all my life, I have been following such great scholars and policy advisors as these.
The best system I've ever seen for intellectual distribution is the direct selling business-also known as one-to-one marketing, network marketing, referral marketing or relationship marketing.
It is therefore utterly false to say that Marx revokes the law of value as far as individual commodities are concerned, and maintains it in force solely for the aggregate of these commodities.
I think if you look back through time, the history of income, wealth and taxation is full of surprise. So I am not terribly impressed by those who know in advance what will or will not happen.
The first lesson of economics is scarcity: there is never enough of anything to fully satisfy all those who want it. The first lesson of politics is to disregard the first lesson of economics.
Study after study, not only here but in other countries, show that the most affordable housing is where there has been the least government interference with the market - contrary to rhetoric.
Like a baseball game, wars are not over till they are over. Wars don't run on a clock like football. No previous generation was so hopelessly unrealistic that this had to be explained to them.
Those parts of history that would undermine the vision of the Left - which prevails in our education system from elementary school to postgraduate study - are not likely to get much attention.
Society is not homogeneous, and those who do not deliberately close their eyes have to recognize that men differ greatly from one another from the physical, moral, and intellectual viewpoints.
What an ideology is is a conceptual framework with the way people deal with reality. Everyone has one. You have to, to exist you need an ideology. The question is whether it is accurate or not.
The recent evidence increasingly suggests that an economic expansion is already well under way, although an array of influences unique to this business cycle seems likely to moderate its speed.
The Kyoto Protocol is a death pact, however strange it may sound, because its main aim is to strangle economic growth and economic activity in countries that accept the protocol's requirements.
The First World War, and especially the latest one, largely swept away what was left in Europe of feudalism and of feudal landlords, especially in Poland, Hungary, and the South East generally.
Either fraternity is spontaneous, or it does not exist. To decree it is to annihilate it. The law can indeed force men to remain just; in vain would it try to force them to be self-sacrificing.
It seems to be almost a law of human nature that it is easier for people to agree on a negative program - on the hatred of an enemy, on the envy of those better off - than on any positive task.
The Germans would appear as the disturbers of peace, as they already do to some people, merely because they were the first to take the path along which all the others were ultimately to follow.
When I reviewed Hayek's book, The Pure Theory of Capital, it is my sincere conviction that this work contains some of the most penetrating thoughts on the subject that have ever been published.
Whoever claims that economic competition represents survival of the fittest in the sense of the law of the jungle, provides the clearest possible evidence of his lack of knowledge of economics.
Clearly the most unfortunate people are those who must do the same thing over and over again, every minute, or perhaps twenty to the minute. They deserve the shortest hours and the highest pay.
Economics in college was very poor; I was not very impressed with it. I actually wanted to study statistics. I discovered mathematical statistics as an undergraduate and was fascinated with it.
Corporate share prices should not be driven by political tax games. Profits, not Washington shenanigans, should be the mother's milk of stocks. And this shouldn't be a partisan political issue.
My father's generation's crisis was fighting fascism. Ours is fighting climate change. It is much harder because you can't see it, it is not an obvious threat. But the solution is in our hands.
What the Depression teaches us is that when the economy is so depressed that even a zero interest rate isn't low enough, you have to put conventional notions of prudence and sound policy aside.
However, the fact that an economist offers a theoretical analysis does not and should not automatically command respect. What is needed is some assurance that the analysis is actually relevant.
Econometrics may be defined as the quantitative analysis of actual economic phenomena based on the concurrent development of theory and observation, related by appropriate methods of inference.
Here is a guiding principle: If a business collects data on consumers electronically, it should provide them with a version of that data that is easy to download and export to another Web site.
One should have a wide variety of assets in one's portfolio. And oil, by the way, is a particularly important asset to have in one's portfolio because we need it, and the economy thrives on it.
The demands of unbounded individualism need to be weighed in the light of inherent social constraints which can only change their form but cannot be eliminated without eliminating civilization.
Reaching into one's own pocket to assist his fellow man is noble and worthy of praise. Reaching into another person's pocket to assist one's fellow man is despicable and worthy of condemnation.
It's a bubble. It has to have intrinsic value. You have to really stretch your imagination to infer what the intrinsic value of Bitcoin is. I haven't been able to do it. Maybe somebody else can.
Lovingly crafted and super-creative cupcakes are not exactly on tap in my household after a full day at work, and I do not blame my mother for a second that they were not on tap in hers, either.
It seems to me that socialists today can preserve their position in academic economics merely by the pretense that the differences are entirely moral questions about which science cannot decide.
My job was to teach the whole corpus of economic theory, but there were two subjects in which I was especially interested, namely, the economics of mass unemployment and international economics.
My bottom line is that monetary policy should react to rising prices for houses or other assets only insofar as they affect the central bank's goal variables - output, employment, and inflation.
Economic stimulation that works through the increased outlays to the affluent has, inevitably, an aspect of soundness and sanity that is lacking in expenditure on behalf of the undeserving poor.
No grant of feudal privilege has ever equaled, for effortless return, that of the grandparent who bought and endowed his descendants with a thousand shares of General Motors or General Electric.
One's knowledge and experience are definitely limited and there are seldom more than two or three enterprises at any given time in which I personally feel myself entitled to put full confidence.
He was in Poland to participate in the NATO conference, President [Barack] Obama did respond well to the back-to-back killings, as well as to the attacks on Dallas police officers that followed.
I argued that until FBI director James Comey gives a green light to new visas, and not until we completely reform the vetting process for new foreign visitors, that the borders should be sealed.
Japan has introduced fiscal stimulus five times in the past seven or eight years and each time it's been a failure and that's not a surprise. Fiscal stimulus is not stimulating in and of itself.
The experience of the '90s, whether it's the '94 peso crisis or the '97 crisis in Asia, the '98 crisis, even the 2001 crisis, is that we recovered pretty readily. There wasn't great consequence.
If it turns out that global warming and ocean acidification are consequences of capitalism's carbon-based energy system, the entire world could end up dead from the external costs of capitalism.
The linear, mechanistic view of the world which pervades orthodox economics is simply not capable of capturing the richness and complexity of the rhythms and fluctuations of developed economies.
When the economy was going up, [Milton Friedman and I] both gave the same advice, and when the economy was going down, we gave the same advice. But in between he didn't change his advice at all.
Some of the most vocal critics of the way things are being done are people who have done nothing themselves, and whose only contributions to society are their complaints and moral exhibitionism.
Capitalism is not an 'ism.' It is closer to being the opposite of an 'ism,' because it is simply the freedom of ordinary people to make whatever economic transactions they can mutually agree to.