“Most economic fallacies derive from the tendency to assume that there is a fixed pie, that one party can gain only at the expense of another.” PartyLibertyEconomicTaxesGainsAssumingDebtSpendingLibertarianTendenciesFixedExpensesLibertarianismPieFree MarketProperty RightsFallacyWealth Of Nations Book:Free to Choose: A Personal Statement Source: Free to Choose: A Personal Statement
“The Internet has taken shape with startlingly little planning? The most universal and indispensable network on the planet somehow burgeoned without so muchasa boardofdirectors, never minda mergers-and- acquisitions department. There is a paradoxical lesson here for strategists. In economic terms, the great corporations are acting like socialist planners, while old- fashioned free-market capitalism blossoms at their feet.” LittlesTermActingTakenFeetEconomicPlanetsInternetLessonsShapesCapitalismUniversalPlanningCorporationsDepartmentSocialistIndispensableOld FashionedFree MarketAcquisitionParadoxicalStrategistPlannersMergersFree Market CapitalismMergers And Acquisitions Author:James Gleick
“Repealing drug laws would remove the risks involved with producing and distributing drugs, bringing 'street prices' crashing down (it's estimated that a 'spoon' of heroin would cost about a quarter in the free market), thereby eradicating any incentive that criminals might have to compete with legitimate businesses, and greatly reducing if not eliminating altogether any economic reason to 'push' drugs on children.” IfsChildrenReasonMightLawRiskEconomicStreetsInvolvedCostDrugCriminalsRemoveQuartersFree MarketIncentivesReducingHeroinSpoonsEliminatingDrug LawsRepealingCrashing Down Author:L. Neil Smith
“The ultimate consequences of the individualist spirit in economic life are those which you yourselves, Venerable Brethren and Beloved Children, see and deplore: Free competition has destroyed itself; economic dictatorship has supplanted the free market; unbridled ambition for power has likewise succeeded greed for gain; all economic life has become tragically hard, inexorable, and cruel.” ChildrenHardSpiritPoliticsEconomyEconomicAmbitionConsequenceGainsUltimateCompetitionGreedDestroyedBelovedLiberalismDictatorshipFree MarketBrethrenInexorable Book:On reconstructing the social order: (Quadragesimo anno) Source: On reconstructing the social order: (Quadragesimo anno)
“There are good people and bad people in all organizations fundamentally however, when you look at the basis of the Tea Party it has nothing to do with race. It has to do with an economic recovery. It has to do with limiting the role of our government in our lives. It has to do with free markets.” PeopleLooksGovernmentPartyRaceRolesOur LivesEconomicOrganizationBasesRecoveryTeaGood PeopleFree MarketBad PeopleTea PartyEconomic Recovery Author:Tim Scott
“The Congressional Budget Office is a reactionary socialist institution which does not believe in economic growth, does not believe in innovation, and does not believe in data that it has not internally generated.” BelieveDoeRealityPoliticalPoliticsGrowthLeadershipMoneyPartyTechnologyEconomicPolicyOfficeCapitalismInnovationInstitutionsIndividualityIdeologyDataBudgetsFree SpeechSocialistPolitical PartiesFree MarketEconomic GrowthReactionariesPartisanship Author:Newt Gingrich
“Every individual necessarily labors to render the annual revenue of society as great as he can. He generally neither intends to promote the public interest, nor knows how much he is promoting it. He intends only his own gain, and he is, in this, as in many other cases, led by an invisible hand to promote an end which was not part of his intention.” KnowsEndsHandsIndividualInterestLibertyCasesKnow HowEconomicGainsEconomicsLaborIntentionLibertarianInvisibleLibertarianismRevenueFree MarketPromotingAnnualsIndividual LibertyPublic InterestGreat LibertarianInvisible HandWealth Of Nations Author:Adam Smith
“The great multinationals are unwilling to face the moral and economic contradictions of their own behavior - producing in low-wage dictatorships and selling to high-wage democracies. Indeed, the striking quality about global enterprises is how easily free-market capitalism puts aside its supposed values in order to do business. The conditions of human freedom do not matter to them so long as the market demand is robust. The absence of freedom, if anything, lends order and efficiency to their operations.” IfsHumansLongMatterFacesValuesOrderQualityMoralDemocracyEconomicConditionsDemandBehaviorLowsCapitalismAbsenceSellingOperationsEnterpriseContradictionDictatorshipEfficiencyFree MarketUnwillingRobustHuman FreedomMultinationalsFree Market Capitalism Author:William Greider
“The free market exists to promote prosperity and human life, and that is what it has accomplished, splendidly, with breathtaking brilliance. In the industrialized world, the average person today enjoys a standard of living superior to that of kings and emperors of the past. The whole world's population is capable of enjoying the same marvelous results, if it adopts economic freedom.” IfsWorldHumansPersonsWholeTodayPastEnjoyResultsEconomicKingsCapableStandardsAveragePopulationProsperityWhole WorldSuperiorsHuman LifeAccomplishedMarvelousFree MarketBrillianceEmperorStandards Of LivingAverage PersonBreathtakingEconomic Freedom Author:George Reisman
“Failure is a big part of a free market's success. People fail to live up to their potential, or to carry out all their good intentions, in all kinds of economic and political systems. Capitalism makes them pay a price for their failures, while socialism, feudalism, fascism and other systems enable personal failures, especially by those at the top, to be ignored.” PeopleKindBigsPoliticalPayFailingEconomicCapitalismIntentionSocialismAll KindsFascismIgnoredFree MarketGood IntentionsPolitical SystemsFeudalismPersonal Failure Author:Thomas Sowell
“It [the free market] is an organizational way of doing things, featuring openness, which enables millions of people to cooperate and compete without demanding a preliminary clearance of pedigree, nationality, color, race, religion, or wealth. It demands only that each person abide by voluntary principles, that is, by fair play. The free market means willing exchange; it is impersonal justice in the economic sphere and excludes coercion, plunder, theft, protectionism, and other anti-free market ways by which goods and services change hands.” PeopleWayMeanPersonsPlayHandsWealthJusticeRacePrinciplesMillionsEconomicColorWillingDemandFairsGoodsOpennessSpheresFree MarketTheftNationalityCoercionPlunderOrganizationalGoods And ServicesFair PlayPedigreeProtectionismClearance Author:Leonard Read
“One of the most important features of our economic resources is their scarcity: land, labor, and capital goods factors are all scarce, and may all be put to various possible uses. The free market uses them 'productively' because the producers are guided, on the market, to produce what the consumers most need: automobiles, for example, rather than buggies.” NeedsMayImportantUseEconomicLandExampleProduceResourcesLaborVariousFactorsProducersConsumersFeaturesGoodsFree MarketAutomobileScarceScarcityLabor And CapitalEconomic Resources Author:Murray Rothbard
“My belief in free competitive economic enterprise does not rest solely or even mainly on arguments of economic efficiency, though, heaven knows, these are cogent enough. It rests essentially on the view that the free market is the only safe way of ensuring that productive effort is directed towards supplying what individuals actually want, and in a way which secures the dignity and independence of the worker.” KnowsWayWantDoeEnoughIndividualBeliefHeavenViewsEffortEconomicSafeArgumentDignityIndependenceWorkersEnterpriseProductiveEfficiencyFree MarketEconomic Efficiency Author:Margaret Thatcher
“A minimum-wage law, a law that prevents employers and employees from entering into mutually beneficial economic exchanges, is as far from a free market or free enterprise as one can get. That's why it causes so much damage and destruction, especially to black teenagers and others whose labor, for one reason or another, is valued by employers at less than the government-established minimum wage.” ReasonGovernmentLawCausesBlackEconomicLaborDestructionTeenagerDamageEnterpriseEmployeeMinimumEnteringFree MarketEmployersBeneficialMinimum WageFree Enterprise Author:Jacob G. Hornberger