Quotes by Economists - Page 19

People above the line of bare subsistence in this age, and in all earlier ages, do not use the surplus which society has given them primarily for useful purposes. They do not seek to expand their lives, to live more wisely, intelligently, understandingly, but to impress other people with the fact that they have a surplus.
Stuart Chase
Free markets are the real people's revolution.
Jeffrey Tucker
If men were like ants, there would be no interest in human freedom. If individual men, like ants, were uniform, inter changeable, devoid of specific personality traits of their own, then who would care whether they were free or not? Who, indeed, would care if they lived or died? The glory of the human race is the uniqueness of each individual, the fact that every person, though similar in many ways to others, possesses a completely individuated personality of his own. It is the fact of each person’s uniqueness—the fact that no two people can be wholly interchangeable—that makes each and every man irreplaceable and that makes us care whether he lives or dies, whether he is happy or oppressed. And, finally, it is the fact that these unique personalities need freedom for their full development that constitutes one of the major arguments for a free society.
Murray N. Rothbard
There is not the slightest analogy between playing games and the conduct of business within a market society. The card player wins money by outsmarting his antagonist. The businessman makes money by supplying customers with goods they want to acquire.
Ludwig von Mises
Don't ... depend on current fashion or ... popular opinion.
John F. Nash
Man has rights because they are natural rights. They are grounded in the nature of man: the individual's capacity for conscious choice, the necessity for him to use his mind and energy to adopt goals and values, to find out about the world, to pursue his ends in order to survive and prosper, his capacity and need to communicate and interact with other human beings and to participate in the division of labor.
Murray N. Rothbard
Society is a voluntary scheme of mutual benefit. The state is a compulsory scheme of mutual exploitation.
Jakub Bożydar Wiśniewski
Society as a whole is more and more splitting up into two great hostile camps
Karl Marx
Individual liberty may be unable to solve every social problem, but collective violence is unable to solve any social problem.
Jakub Bożydar Wiśniewski
Nearly all libertarians were once conservatives or progressives or independent statists of some stripe. But scarcely any conservatives, progressives, or independent statists were once libertarians. This asymmetry in the direction of ideological migration is interesting and perhaps informative.
Robert Higgs
Why anarchy? Because anything less would be uncivilized.
Jeffrey Tucker
Thus, since an individual cannot lawfully use force against the person, liberty, or property of another individual, then the common force — for the same reason — cannot lawfully be used to destroy the person, liberty, or property of individuals or groups.
Bastiat
Individualism turns a band into a society. Collectivism turns society into a mob.
Jakub Bożydar Wiśniewski
If we can agree that the economic problem of society is mainly one of rapid adaptation to changes in the particular circumstances of time and place, it would seem to follow that the ultimate decisions must be left to the people who are familiar with these circumstances, who know directly of the relevant changes and of the resources immediately available to meet them.
Friedrich A. Hayek
Management, a science? Of course not, it's just a waste-paper basket full of recipes which provided the dish of the day during a few years of plenty and economic growth. Now the recipes are inappropriate and the companies which persist in following them will disappear.
Leon Courville
The businessman is only tolerable so long as his gains can be held to bear some relation to what, roughly and in some sense, his activities have contributed to society.
John Maynard Keynes
No society can work unless its members feel responsibilities as well as rights.
Richard Layard
Experience has taught me that those who give their time to the absorbing claims of what is called society, not having leisure to keep up a large acquaintance with the organs of opinion, remain much more ignorant of the general state either of the public mind, or of the active and instructed part of it, than a recluse who reads the newspapers need be.
John Stuart Mill
How long will it be necessary to pay City men so entirely out of proportion to what other servants of society commonly receive for performing social services not less useful or difficult?
John Maynard Keynes
If you ask me, my ideal would be the society based on liberty, equality and fraternity. An ideal society should be mobile and full of channels of conveying a change taking place in one part to other parts.
B.R. Ambedkar
It has been frequently remarked, that it seems to have been reserved to the people of this country to decide, by their conduct and example, the important question, whether societies of men are really capable or not, of establishing good government from reflection and choice, or whether they are forever destined to depend, for their political constitutions, on accident and force.
Alexander Hamilton
A society can be Pareto optimal and still perfectly disgusting.
Amartya Sen
A bitter thing cannot be made sweet. The taste of anything can be changed. But poison cannot be changed into nectar.
B.R. Ambedkar
Justice has always evoked ideas of equality, of proportion of compensation. Equity signifies equality. Rules and regulations, right and righteousness are concerned with equality in value.If all men are equal, then all men are of the same essence, and the common essence entitles them of the same fundamental rights and equal liberty... In short justice is another name of liberty, equality and fraternity.
B.R. Ambedkar
Slavery does not merely mean a legalised form of subjection. It means a state of society in which some men are forced to accept from others the purposes which control their conduct.
B.R. Ambedkar
The Marxians love of democratic institutions was a stratagem only, a pious fraud for the deception of the masses. Within a socialist community there is no room left for freedom.
Ludwig von Mises
And here it becomes evident that the bourgeoisie is unfit any longer to be the ruling class in society and to impose its conditions of existence upon society as an over-riding law. It is unfit to rule because it is incompetent to assure an existence to its slave within his slavery, because it cannot help letting him sink into such a state that it has to feed him instead of being fed by him. Society can no longer live under this bourgeoisie; in other words, its existence is no longer compatible with society.The essential condition for the existence, and for the sway of the bourgeois class, is the formation and augmentation of capital; the condition for capital is wage-labor. Wage-labor rests exclusively on competition between the laborers. The advance of industry, whose involuntary promoter is the bourgeoisie, replaces the isolation of the laborers, due to competition, by their revolutionary combination, due to association. The development of modern industry, therefore, cuts from under its feet the very foundation on which the bourgeoisie produces and appropriates products. What the bourgeoisie therefore produces, above all, are its own grave diggers. Its fall and the victory of the proletariat are equally inevitable.
Karl Marx
Society does not consist of individuals, but expresses the sum of interrelations, the relations within which these individuals stand.
Karl Marx
Unlike a drop of water which loses its identity when it joins the ocean, man does not lose his being in the society in which he lives. Man's life is independent. He is born not for the development of the society alone, but for the development of his self too.
B.R. Ambedkar
Intellect is not wisdom.
Thomas Sowell
No society can surely be flourishing and happy of which by far the greater part of the numbers are poor and miserable.
Adam Smith
That the principle which regulates the existing social relations between the two sexes -- the legal subordination of one sex to the other -- is wrong in itself, and now one of the chief hindrances to human improvement; and that it ought to be replaced by a principle of perfect equality, admitting no power or privilege on the one side, nor disability on the other.
John Stuart Mill
Men do not want solely the obedience of women, they want their sentiments. -The Subjection of Women
John Stuart Mill
.all the moralities tell them that it is the duty of women, and all the current sentimentalities that it is their nature, to live for others; to make complete abnegation of themselves, and to have no life but their affections. - The Subjection of Women
John Stuart Mill
The bourgeois sees in his wife a mere instrument of production.
Karl Marx
All women are brought up from the very earliest years in the belief that their ideal of character is the very opposite to that of men; not self-will,and government by self-control, but submission and yielding to the control of others. All the moralities tell them that it is their nature to live fir others;to make complete abnegation of themselves,and to have no life but in their affections.
John Stuart Mill
It should be said that my parents had married for love. The affection and devotion they had shared was the rarest of indulgences, perhaps especially in those days. For them, it had been love at first sight, and so my mother's death shattered my father. That it only dimmed his light rather than snuffed it out altogether was a miracle in and of itself. ~The Peacemakers ~(The Nemesis Engines)
Olivier A. Blanchard
I have long held that there are two fundamental views of children: That they are pets who can talk, or that they are small people who do not yet know very much. The wrong one is winning.
David Friedman
Since its appearance the view that prostitution is a product of capitalism has gained ground enormously. And as, in addition, preachers still complain that the good old morals have decayed, and accuse modern culture of having led to loose living, everyone is convinced that all sexual wrongs represent a symptom of decadence peculiar to our age.
Ludwig von Mises
Reality does not go away when it is ignored.
Thomas Sowell
If something cannot go on forever, it will stop.
Herbert Stein
Obituaries are just like biographies, only shorter. They remind us that interesting, successful people rarely lead orderly, linear lives. I defy you to find a single obituary that begins, "Jane Doe won the Nobel Prize in large part because she was admitted to a prestigious, highly selective preschool. After that, everything just kind of fell into place." Instead, you will read about dead ends, lucky coincidences, quirky habits, excessive self-confidence (often interspersed with bursts of excessive self-doubt), and a lot of passion for something.
Charles Wheelan
To know your ruling passion, examine your castles in the air.
Richard Whately
Launching a turnaround takes courage. I cannot measure that and so it is not going to be included in my analysis, but behind the moments of change there are always a few people within these societies who have decided to try to make a difference.
Paul Collier
That man who is without religion and mercy should be rejected. A guru without spiritual knowledge should be rejected. The wife with an offensive face should be given up and so should relatives who are without affection.
Chanakya
Command and obedience are but unfortunate necessities of human life: society in equality is its normal state.
John Stuart Mill
The greatest obstacle to liberty is not the existence of evil rulers, but the belief in the existence of good rulers.
Jakub Bożydar Wiśniewski
... A state is a human community that (successfully) claims the monopolyof the legitimate use of physical force within a given territory.
Max Weber
Elections determine who is in power, but they do not determine how power is used.
Paul Collier
To think that because those who wield power in society wield in the end that of government, therefore it is of no use to attempt to influence the constitution of the government by acting on opinion, is to forget that opinion is itself one of the greatest active social forces. One person with a belief is a social power equal to ninety-nine who have only interests.
John Stuart Mill
A specter is haunting Europe—the specter of Communism. All the powers of old Europe have entered into a holy alliance to exorcise this specter; Pope and Czar, Metternich and Guizot, French radicals and German police spies.Where is the party in opposition that has not been decried as Communistic by its opponents in power? Where the opposition that has not hurled back the branding reproach of Communism, against the more advanced opposition parties, as well as against its reactionary adversaries?Two things result from this fact.I. Communism is already acknowledged by all European powers to be in itself a power.II. It is high time that Communists should openly, in the face of the whole world, publish their views, their aims, their tendencies, and meet this nursery tale of the Specter of Communism with a Manifesto of the party itself.
Karl Marx
It's only in the mysterious equations of love that any logical reasons can be found.
John Forbes Nash Jr
The mind can never foresee its own advance
Friedrich A. Hayek
The world makes much less sense than you think. The coherence comes mostly from the way your mind works.
Daniel Kahneman
The Christian right, which trumpets the theme of family values, damns contemporary culture for undermining older traditions. Yet many individuals from this camp are not concerned first and foremost about family values per se. Family is a codeword for constraint; families and family values place constraints on individuals more effectively than any other institution, including government. The Christian right seeks a society in which all are constrained; they reject big government for failing at constraint, and for undermining those institutions, like the family, that have a chance at succeeding.
Tyler Cowen
All index-number systems, so far as they are intended to have a greater significance for monetary theory than that of mere playing with figures, are based upon the idea of measuring the utility of a certain quantity of money. The object is to determine whether a gramme of gold is more or less useful to-day than it was at a certain time in the past. As far as objective use-value is concerned, such an investigation may perhaps yield results. We may assume the fiction, if we like, that, say, a loaf of bread is always of the same utility in the objective sense, always comprises the same food value. It is not necessary for us to enter at all into the question of whether this is permissible or not.
Ludwig von Mises
Even if index numbers cannot fulfill the demands that theory has to make, they can still, in spite of their fundamental shortcomings and the inexactness of the methods by which they are actually determined, perform useful workaday services for the politician. If we have no other aim in view than the comparison of points of time that lie close to one another, then the errors that are involved in every method of calculating numbers may be so far ignored as to allow us to draw certain rough conclusions from them. Thus, for example, it becomes possible to a certain extent to span the temporal gap that lies, in a period of variation in the value of money, between movements of Stock Exchange rates and movements of the purchasing power that is expressed in the prices of commodities.
Ludwig von Mises
For hundreds, even thousands, of years, people completely failed to see that variations in the objective exchange-value of money could be induced by monetary factors. They tried to explain all variations of prices exclusively from the commodity side.
Ludwig von Mises
When individuals are exchanging present goods against future goods they do not take account in their valuations of Variations in the objective exchange-value of money. Lenders and borrowers are not in the habit of allowing for possible future fluctuations in the objective exchange-value of money.
Ludwig von Mises
The jurist is totally unacquainted with the problem of the value of money; he knows nothing of fluctuations in its exchange-value. The naive popular belief in the stability of the value of money has been admitted, with all its obscurity, into the law, and no great historical cause of large and sudden variations in the value of money has ever provided.
Ludwig von Mises