Quotes by Economists - Page 5

First, with the establishment of a state and territorially defined state borders, “immigration” takes on an entirely new meaning. In a natural order, immigration is a person’s migration from one neighborhood-community into a different one (micro-migration). In contrast, under statist conditions immigration is immigration by “foreigners” from across state borders, and the decision whom to exclude or include, and under what conditions, rests not with a multitude of independent private property owners or neighborhoods of owners but with a single central (and centralizing) state-government as the ultimate sovereign of all domestic residents and their properties (macro-migration). If a domestic resident-owner invites a person and arranges for his access onto the resident-owner’s property but the government excludes this person from the state territory, it is a case of forced exclusion (a phenomenon that does not exist in a natural order). On the other hand, if the government admits a person while there is no domestic resident-owner who has invited this person onto his property, it is a case of forced integration (also nonexistent in a natural order, where all movement is invited).
Hans-Hermann Hoppe
The problems in every country are the same. Bureaucracy is strangling innovation. Overgrown political sectors are sucking away resources that could otherwise lead to growth. Regulations and taxes are punishing innovation. Public sector services are breaking down and no longer serving people's needs. Laws and prevailing legislation control a world that no longer exists. People who go into politics to change the system end up getting co-opted by it. Workers feel trapped and fear a lack out options outside the status quo. In every case, it comes down to the great evil of our time and all times: government itself. There is no place on earth in which more liberty and less or no government would not be welcome and bring about real progress.
Jeffrey Tucker
Those then, who resist a confirmation of public order, are the true Artificers of monarchy—not that this is the intention of the generality of them. Yet it would not be difficult to lay the finger upon some of their party who may justly be suspected. When a man unprincipled in private life desperate in his fortune, bold in his temper, possessed of considerable talents, having the advantage of military habits—despotic in his ordinary demeanour—known to have scoffed in private at the principles of liberty—when such a man is seen to mount the hobby horse of popularity—to join in the cry of danger to liberty—to take every opportunity of embarrassing the General Government & bringing it under suspicion—to flatter and fall in with all the non sense of the zealots of the day—It may justly be suspected that his object is to throw things into confusion that he may “ride the storm and direct the whirlwind.
Alexander Hamilton
Everything can be seen directly except the eye through which we see.
Ernst F. Schumacher
for in the absence of a magistrate (dandadharabhave), the strong will swallow the weak; but under his protection, the weak resist the strong.
Kautilya
If I find the constitution being misused, I shall be the first to burn it.
B.R. Ambedkar
I do not want that our loyalty as Indians should be in the slightest way affected by any competitive loyalty whether that loyalty arises out of our religion, out of our culture or out of our language. I want all people to be Indians first, Indian last and nothing else but Indians.
B.R. Ambedkar
private loans will utilize existing resources and capital far better than government loans. Government loans will waste far more capital and resources than private loans. Government loans, in short, as compared with private loans, will reduce production, not increase it.
Henry Hazlitt
reason why prosperity spread, and why it continues to spread, is the transmission of technologies and the ideas underlying them.
Jeffrey D. Sachs
I learned that things are never as complicated as we imagine them to be. It is only our arrogance which seeks to find complicated answers to simple problems.
Muhammad Yunus
I have learned to seek my happiness by limiting my desires, rather than in attempting to satisfy them.
John Stuart Mill
The members of the functional and socially mobilized under class must, in some very real way, be seen as the architects of their own fate. If not, they could be, however marginally, on the conscience of the comfortable. There could be a disturbing feeling, however fleeting, of unease, even guilt.
John Kenneth Galbraith
We disapprove of state education. Than the socialists say that we are opposed to any education. We object to a state religion. Than the socialists say that we don't want an religion at all. We object to a state-enforced equality. Than they say that we are against equality. And so on, and so on. It is as if the socialists were to accuse us of not wanting persons to eat because we do not want the state to raise grain.
Frédéric Bastiat
The most visible and often tragic sacrifice of proletarian socialism - not to mention internationalism - on the altar of nationalism, of course, has been by the states that proclaim themselves to be, or to aspire to become, socialist.
André Gunder Frank
The champions of socialism call themselves progressives, but they recommend a system which is characterized by rigid observance of routine and by a resistance to every kind of improvement. They call themselves liberals, but they are intent upon abolishing liberty. They call themselves democrats, but they yearn for dictatorship. They call themselves revolutionaries, but they want to make the government omnipotent. They promise the blessings of the Garden of Eden, but they plan to transform the world into a gigantic post office. Every man but one a subordinate clerk in a bureau.
Ludwig von Mises
Every socialist wishes to revolutionize society from the economic angle and all the blessings he expects are to come through a change in economic institutions. This of course implies a theory about social causation—the theory that the economic pattern is the really operative element in the sum total of the phenomena that we call society.
Joseph Alois Schumpeter
Every emancipation is a restoration of the human world and of human relationships to a man himself.
Karl Marx
As the result of its systems and of its efforts, it would seem that socialism, notwithstanding all its self-compaceny, can scarcely help perceiving the monster of legal plunder. But what does it do? It disguises it cleverly from others, and even from itself, under the seductive names of fraternity, solidarity, organization, association. And because we do not ask so much at the hands of the law, because we only ask it for justice, it alleges that we reject fraternity, solidarity, organization, and association; and they brand us with the name of individualists. We can assure them that what we repudiate is not natural organization, but forced organization. It is not free association, but the forms of association that they would impose upon us. It is not spontaneous fraternity, but legal fraternity. It is not providential solidarity, but artificial solidarity, which is only an unjust displacement of responsibility. Socialism, like the old policy from which it emanates, confounds Government and society. And so, every time we object to a thingbeing done by Government, it concludes that we object to its being done at all. We disapprove of education by the State--then we are against education altogether. We object to a State religion--then we would have no religion at all. We object to an equality which is brought about by the State then we are against equality, etc., etc. They might as well accuse us of wishing men not to eat, beacuse we object to the cultivation of corn by the State.
Bastiat
It is so true, that the Socialists look upon mankind as a subject for social experiments, that if, by chance, they are not quite certain of the success of these experiments, they will request a portion of mankind, as a subject to experiment upon. It is well known how popular the ideaof trying all systems is, and one of their chiefs has been known seriously to demand of the Constituent Assembly a parish, with all its inhabitants, upon which to make his experiments. It is thus that an inventor will make a small machine before he makes one of the regular size. Thus the chemist sacrifices some substances, the agriculturist some seed and corner of his field, to make trial of an idea. But think of the difference between the gardener and his trees, between the inventor and his machine, between the chemist and his substances, between the agriculturist and his seed! The Socialist thinks, in all sincerity, that there is the same difference between himself and mankind. No wonder the politicians of the nineteenth century look upon society as an artifical production of the legislator's genius. This idea, the result of a classical education, has taken possession of all the thinkers and great writers of our country. To all these persons, the relations between mankind and the legislator appear to be the same as those that exist between the clay and the potter.
Bastiat
I have always preferred the contemplative to the active life. I prefer the freedom to see matters from several viewpoints, to appreciate ironies, and indeed to change my opinion as I learn something new. To be politically active means to surrender this freedom. I say nothing against activism for others. It is only through the committed that necessary changes come. But each to his own path. [A Cautious Case for Socialism, Dissent Magazine, 1978]
Kenneth J Arrow
The argument for collectivism is simple if false; it is an immediate emotional argument. The argument for individualism is subtle and sophisticated; it is an indirect rational argument. And the emotional faculties are more highly developed in most men than the rational, paradoxically or especially even in those who regard themselves as intellectuals
Milton Friedman
Socialism is socialism. Government run enterprises are just as inept under democratic governments as they are under autocratic governments.
Thomas J. DiLorenzo
What is put into the hands of B cannot be put into the hands of A.
Henry Hazlitt
Not content with the liberal creed of equality of rights, of equality before the law, the socialist State would trample on such equality on behalf of the monstrous and impossible goal of equality or uniformity of results--or rather, would erect a new privileged elite, a new class, in the name of bringing about such an impossible equality. Socialism was a confused and hybrid movement because it tried to achieve the lbieral goals of freedom, peace and industrial harmony and growth--goals which can only be achieved through liberty and the seperation of government from virtuallty--by imposting the old conservative means of statism, collectivism, and hierarchical privilege.
Murray N. Rothbard
All Nazi champions insist again and again that Marxism and Bolshevism are the quintessence of the Jewish mind, and that it is the great historic mission of Nazism to root out this pest. It is true that this attitude did not prevent the German nationalists either from coöperating with the German communists in undermining the Weimar Republic, or from training their black guards in Russian artillery and aviation camps in the years 1923–1933, or— in the period from August, 1939, until June, 1941—from entering into a close political and military complicity with Soviet Russia. Nevertheless, public opinion supports the view that Nazism and Bolshevism are philosophies—Weltanschauungen—implacably opposed to each other.
Ludwig von Mises
Oscar Wilde was born in Dublin, on the 15th October, 1856, so that he is now about twenty-six years of age, but brief as has been his career, it has been full of promise for the future. The son of highly intellectual parents, he has had an exceptional education, has travelled much in wild and remote, through classic lands, and in the course of these journeys has learnt to appreciate the beauties of the old authors, in whose works whilst at college he attained exceptional proficiency. But his naturally enthusiastic temperament teaches him to hope for better in the future than has been achieved in the past, and to see how vast will be the influence of Art and Literature on the coming democracy of Intellect, when education and culture shall have taught men to pride themselves on what they have done, and not alone on the deeds of their ancestors.
Walter Hamilton
Never stop learning, and always be ready to teach yourself things you don’t know. The only things you will remember are things you care about.
Jonathan Tepper
When people get used to preferential treatment, equal treatment seems like discrimination.
Thomas Sowell
Bad men need nothing more to compass their ends, than that good men should look on and do nothing.
John Stuart Mill
It also appears to me that when prejudices persist obstinately, it is the fault of nobody so much as of those who make a point of proclaiming them insuperable, as an excuse to themselves for never joining in an attempt to remove them. Any prejudice whatever will be insurmountable if those who do not share it themselves truckle to it, and flatter it, and accept it as a law of nature.
John Stuart Mill
The truth unquestionably is, that the only path to a subversion of the republican system of the Country is, by flattering the prejudices of the people, and exciting their jealousies and apprehensions, to throw affairs into confusion, and bring on civil commotion.
Alexander Hamilton
Dawes observed that the complex statistical algorithm adds little or no value. One can do just as well by selecting a set of scores that have some validity for predicting the outcome and adjusting the values to make them comparable (by using standard scores or ranks). A formula that combines these predictors with equal weights is likely to be just as accurate in predicting new cases as the multiple-regression formula that was optimal in the original sample. More recent research went further: formulas that assign equal weights to all the predictors are often superior, because they are not affected by accidents of sampling.
Daniel Kahneman
..things are never as complicated as they seem. It is only our arrogance that prompts us to find unnecessarily complicated answers to simple problems.
Muhammad Yunus
Consider the situation: Money that was provided because of social networks rather than need; a project designed for prestige rather than to be used; a lack of monitoring and accountability; and an architect appointed for show by somebody with little interest in the quality of the work. The outcome is hardly surprising: a project that should never have been built was built, and built badly.
Tim Harford
The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness... & ... Liberalism is, I think, resurgent. One reason is that more and more people are so painfully aware of the alternative.–
John Kenneth Galbraith
Conservatives are not necessarily stupid, but most stupid people are conservatives... I never meant to say that the Conservatives are generally stupid. I meant to say that stupid people are generally Conservative. I believe that is so obviously and universally admitted a principle that I hardly think any gentleman will deny it. Suppose any party, in addition to whatever share it may possess of the ability of the community, has nearly the whole of its stupidity, that party must, by the law of its constitution, be the stupidest party; and I do not see why honorable gentlemen should see that position as at all offensive to them, for it ensures their being always an extremely powerful party . . . There is so much dense, solid force in sheer stupidity, that any body of able men with that force pressing behind them may ensure victory in many a struggle, and many a victory the Conservative party has gained through that power."John Stuart Mill ( British philosopher, economist, and liberal member of Parliament for Westminster from 1865 to 68 )
John Stuart Mill
The word 'risk' derives from the early Italian risicare, which means 'to dare'. In this sense, risk is a choice rather than a fate. The actions we dare to take, which depend on how free we are to make choices, are what the story of risk is all about. And that story helps define what it means to be a human being.
Peter L. Bernstein
The market system is the basis of our civilization. Its only alternative is the Führer principle.
Ludwig von Mises
I am a great believer in luck, and I find the harder I work, the more I have of it
Stephen Leacock
But now I understand something more fully that I once only understood abstractly. I see how utterly ridiculous it is to think that the state can be the right means to help those who are poor or living at the margins of society. The state is their enemy, as it is for everyone else.
Jeffrey Tucker
The lobby is the army of the plutocracy.
William Graham Sumner
We know something about billionaire consumption, but it is hard to measure some of it. Some billionaires are consuming politicians, others consume reporters, and some consume academics...
Thomas Piketty
One gratifying aspect of our rise to some prominence is that, for the first time in my memory, we, ‘our side,’ had captured a crucial word from the enemy . . . ‘Libertarians’ . . . had long been simply a polite word for left-wing anarchists, that is for anti-private property anarchists, either of the communist or syndicalist variety. But now we had taken it over...
Murray N. Rothbard
Socialism and Communism have failed, but now Capitalism is failing us.
Jo M. Sekimonyo
Philosophers have hitherto interpreted the world in various way; the point, however, is to change it
Karl Marx
If conquest constitutes a natural right on the part of the few, the many have only to gather sufficient strength in order to acquire the natural right of reconquering what has been taken from them
Karl Marx
Philosophers have hitherto interpreted the world in various ways; the point, however, is to change it
Karl Marx
You are horrified at our intending to do away with private property. But in your existing society private property is already done away with for nine-tenths of the population; its existence for the few is solely due to its non-existence in the hands of those nine-tenths. You reproach us, therefore, with intending to do away with a form of property, the necessary condition for whose existence is the non-existence of any property for the immense majority of society.In one word, you reproach us with intending to do away with your property. Precisely so: that is just what we intend.
Karl Marx
Fascism is the stage reached after communism has proved an illusion.
Friedrich A. Hayek
Nor let us be resentful when others differ from us. For all men have hearts, and each heart has its own leanings. Their right is our wrong, and our right is their wrong.
Amartya Sen
Failing is easy, but climbing up the mountain requires strategy, commitment, endurance, and the iron will to keep trying till you reach the summit.
John Taskinsoy
Hitherto men have always formed wrong ideas about themselves, about what they are and what they ought to be. They have arranged their relations according to their ideas of God, of normal man, etc. The products of their brains have got out of their hands. They, the creators, have bowed down before their creations.
Karl Marx
In the social production which men carry on they enter into definite relations that are indispensable and independent of their will; these relations of production correspond to a definite stage of development of their material powers of production. The sum total of these relations of production constitutes the economic structure of society—the real foundation, on which rise legal and political superstructures and to which correspond definite forms of social consciousness. The mode of production in material life determines the general character of the social, political and spiritual processes of life. It is not the consciousness of men that determines their existence, but, on the contrary, their social existence determines their consciousness.
Karl Marx
The sum of productive forces, capital funds and social forms of intercourse, which every individual and generation finds in existence as something given, is the real basis of what the philosophers have conceived as "substance" and "essence of man," and what they have deified and attacked: a real basis which is not in the least disturbed, in its effect and influence on the development of men, by the fact that these philosophers revolt against it as "self-consciousness" and the "Unique.
Karl Marx
All students of man and society who possess that first requisite for so difficult a study, a due sense of its difficulties, are aware that the besetting danger is not so much of embracing falsehood for truth, as of mistaking part of the truth for the whole. It might be plausibly maintained that in almost every one of the leading controversies, past or present, in social philosophy, both sides were in the right in what they affirmed, though wrong in what they denied; and that if either could have been made to take the other’s views in addition to its own, little more would have been needed to make its doctrine correct.
John Stuart Mill
Systemic processes tend to reward people for making decisions that turn out to be right—creating great resentment among the anointed, who feel themselves entitled to rewards for being articulate, politically active, and morally fervent.
Thomas Sowell
It is better to be roughly right than precisely wrong.
John Maynard Keynes
Politics is the application of Sufism to earthlife...To refuse to act politically is to starve your children, destroy civilization.
Shamcher Bryn Beorse
Competitive forces = the underlying drivers of profitability P.25
Michael E. Porter
If the rules make such a difference, then it becomes very important who gets to make them.
Abhijit V. Banerjee