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Quote by Robert H. Frank

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Robert H. Frank
Robert H. Frank

Robert H. Frank is a renowned economist born on January 2, 1945. He has conducted extensive research in various fields of economics, particularly in the areas of consumer choice, market behavior, and income distribution. Professor Frank is known for his profound insights into economics and his focus on social issues. more

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“John Stuart Mill believed that the only acceptable reason for government to limit a person's liberty was to prevent him from causing unacceptable harm to others. Mill was not a libertarian, but many libertarians are quick to cite this principle when arguing against a regulation that they oppose. And I believe most thoughtful libertarians are prepared to embrace something fairly close to Mill's harm principle. But accepting that principle implies accepting many of the institutions of the modern welfare state that libertarians have vigorously opposed in the past, such as safety regulation.”

BelievePersonsStatesReasonGovernmentPastI BelieveLibertyAcceptingPrinciplesModernLimitsSafetyInstitutionsEmbracePreparedHarmLibertarianArguingWelfareThoughtfulAcceptableRegulationMillsWelfare StateCiting
Author:Robert H. Frank
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“We've long known that firms can pay higher wages if they spend less on workplace safety enhancement. Libertarians ask, "If a worker is willing to accept higher wages in return for his agreement to exercise greater caution while performing his job, why should the government prevent him from making that choice?" It's a rhetorically powerful question, yet it overlooks the fact that the agreement in question will have adverse effects on others.”

IfsShouldLongFactsGovernmentJobsChoicesAsksPowerfulPayKnownAcceptingGreaterEffectsWillingReturnHigherExerciseSafetyWorkersLibertarianFirmPerformingAgreementWorkplaceWagesCautionAdverseEnhancementWorkplace SafetyAdverse Effects
Author:Robert H. Frank
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“A good school is a relative concept, and the better schools are located in more expensive neighborhoods. But when everyone bids more for a house in a better school district, they succeed only in bidding up the prices of those houses. As before, 50 percent of all children will attend schools in the bottom half of the school quality distribution. As in the familiar stadium metaphor, all stand, hoping to get a better view, only to discover that no one sees better than if all had remained seated.”

IfsChildrenSchoolHouseViewsHalfQualitySucceedPercentConceptsBottomMetaphorFamiliarExpensiveNeighborhoodRelativeDistributionStadiumsBiddingGood SchoolSchool Districts
Author:Robert H. Frank
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