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Economic Quotes

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Economic Quotes

“In the course of his long, turbulent career, W. E. B. Du Bois attempted virtually every possible solution to the problem of twentieth-century racism...scholarship, propaganda, integration, national self-determination, human rights, cultural and economic separatism, politics, international communism, expatriation, third world solidarity.”

“There are but three political-economic roads from which we can choose... We could take the first course and further exacerbate the already concentrated ownership of productive capital in the American economy. Or we could join the rest of the world by taking the second path, that of nationalization. Or we can take the third road, establishing policies to diffuse capital ownership broadly, so that many individuals, particularly workers, can participate as owners of industrial capital. The choice is ours.”

“Libertarianism is neither of the left nor of the right. It is unique. It is sui generis. It is apart from left and right. The left right political spectrum simply has no room for libertarianism. Think of an equilateral triangle, with libertarianism at one corner, the left at a second corner and the right at the third corner. We are equally distant from both of those misbegotten political economic philosophies. No, better yet, think in terms of an isosceles triangle, with us at the top and the two of them at the bottom, indicating they have more in common with each other than with us.”

“I was 25 years old and pursuing my doctorate in economics when I was allowed to spend six months of postgraduate studies in Naples, Italy. I read the Western economic textbooks and also the more general work of people like Hayek. By the time I returned to Czechoslovakia, I had an understanding of the principles of the market. In 1968, I was glad at the political liberalism of the Dubcek Prague Spring, but I was very critical of the Third Way they pursued in economics.”