“Since man does not create physical matter, those who handle material objects in the production process are not producers in that sense. Economic benefits result from the transformation of matter in form, location, or availability (intellectually or temporally). It is these transformations that create economic benefits valued by consumers, and whoever arranges such transformations contributes to the value of things, whether his hands actually come into contact with physical objects or not.” MenDoeMatterHandsFormValuesProcessResultsEconomicObjectsMaterialsBenefitsTransformationProductionsHandleContactProducersConsumersLocationAvailability Author:Thomas Sowell
“The application of psychoanalysis to sociology must definitely guard against the mistake of wanting to give psychoanalytic answers where economic, technical, or political facts provide the real and sufficient explanation of sociological questions. On the other hand, the psychoanalyst must emphasize that the subject of sociology, society, in reality consists of individuals, and that it is these human beings, rather than abstract society as such, whose actions, thoughts, and feelings are the object of sociological research.” GivingHumansRealFactsFeelingsHandsRealityActionPoliticalIndividualHuman BeingsAnswersMistakeEconomicSubjectsObjectsResearchExplanationSufficientAbstractApplicationSociologyPsychoanalysisThoughts And FeelingsSociologicalPsychoanalytic Author:Erich Fromm
“Economists tell us that the 'price' of an object and its 'value' have very little or nothing to do with one another. 'Value' is entirely subjective economic value, anyway while 'price' reflects whatever a buyer is willing to give up to get the object in question, and whatever the seller is willing to accept to give it up. Both are governed by the Law of Marginal Utility, which is actually a law of psychology, rather than economics. For government to attempt to dictate a 'fair price' betrays complete misunderstanding of the entire process.” GivingLittlesGovernmentLawValuesProcessAcceptingPsychologyEconomicObjectsWillingGiving UpFairsEconomicsBetrayEconomistMisunderstandingSubjectiveUtilitySellersBuyersEconomic Value Author:L. Neil Smith
“If we wish to preserve a free society, it is essential that we recognize that the desirability of a particular object is not sufficient justification for the use of coercion.” IfsUseWishLibertyEconomyEconomicObjectsParticularEssentialsPreservesSufficientJustificationCoercionFree SocietyDesirability Author:Friedrich August von Hayek