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Quote by Mike Cloud

“Some libertarians succeed by re-inventing the wheel. Most libertarians fail by re-inventing the flat tire.”

Quote by Mike Cloud

Author

Mike Cloud
Mike Cloud

Mike Cloud is an accomplished American football player, born on July 1, 1975. He has made significant contributions to the sport, having played for several professional teams and being recognized for his exceptional skills and leadership. more

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“The absurdity of public-choice theory is captured by Nobel Prize-winning economist Amartya Sen in the following little scenario: "Can you direct me to the railway station?" asks the stranger. "Certainly," says the local, pointing in the opposite direction, towards the post office, "and would you post this letter for me on your way?" "Certainly," says the stranger, resolving to open it to see if it contains anything worth stealing.”

“Throughout the history of the Internet, most of the innovation has come as a by-product of efforts to facilitate communication within social groups of various kinds (academics, bloggers, peer-to-peer file sharing), rather than as the result of profit-oriented investment. Rather than taking the lead, the business and government sectors have adopted innovations developed in Internet communities, and realised significant productivity gains as a result.”

“Liberty and equality, spontaneity and security, happiness and knowledge, mercy and justice - all these are ultimate human values, sought for themselves alone; yet when they are incompatible, they cannot all be attained, choices must be made, sometimes tragic losses accepted in the pursuit of some preferred ultimate end.”

“In contrast, markets - oft mythologized as "natural" are the most unnatural things going. Libertarians will tell you "market laws are laws of nature", what baloney. Markets - and the other great modernist cornucopian tools - are magnificent wealth generating machines, built ad-hoc, through trial and error, constantly fine-tuned and refined, tinkered, adjusted.”

“The term "rational" and its variants (rationality, rationalism) are used in a lot of contexts in economic debate, both positively and negatively, but nearly always sloppily or dishonestly. A specimen I've seen on more occasions than I can count is the line (usually presented with a sense of witty originality) "if you are opposed to economic rationalism, you must be in favor of economic irrationalism"... I've come to the conclusion that the word "rational" has no meaning that cannot better be conveyed by some alternative term and that the best advice is probably to avoid it altogether.”

“At George Mason University I saw Hoppe present a lecture in which he claimed that Ludwig von Mises had set the intellectual foundation for not only economics, but for ethics, geometry, and optics, as well. This bizarre claim turned a serious scholar and profound thinker into a comical cult figure, a sort of Euro Kim Il Sung.”