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Economics Quotes

“In an information economy, entrepreneurs master the science of information in order to overcome the laws of the purely physical sciences. They can succeed because of the surprising power of the laws of information, which are conducive to human creativity. The central concept of information theory is a measure of freedom of choice. The principle of matter, on the other hand, is not liberty but limitation- it has weight and occupies space.”

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Book:Knowledge and Power: The Information Theory of Capitalism and How it is Revolutionizing our World
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“Entropy is Janus-faced. Its upside surprises are redemptive and favorable to freedom. It is freedom of choice. But the carrier itself requires constant vigilance against entropic noise. Order is not spontaneous, but it is a necessary condition for all the surprises of freedom and opportunity.”

OrderChoicesOpportunityConditionsEconomicsConstantSurpriseNoiseSpontaneousFreedom Of ChoiceVigilanceEntropyCarrierJanus
Book:Knowledge and Power: The Information Theory of Capitalism and How it is Revolutionizing our World
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“Entrepreneurial creation is the generation, de novo, of novelty and surprise- freedom of choice originating in the world of ideas, and imagination beyond all concern with chemicals. The contrary view- that all ideas are determined by material relationships- is the materialist superstition.”

WorldIdeasChoicesImaginationViewsGenerationsCreationMaterialsConcernEconomicsSurpriseDeterminedContraryChemicalsSuperstitionsNoveltyEntrepreneurialFreedom Of Choice
Book:Knowledge and Power: The Information Theory of Capitalism and How it is Revolutionizing our World
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“Our practical choice is not between a tax-cut deficit and a budgetary surplus. It is between two kinds of deficits: a chronic deficit of inertia, as the unwanted result of inadequate revenues and a restricted economy; or a temporary deficit of transition, resulting from a tax cut designed to boost the economy, increase tax revenues, and achieve -- and I believe this can be done -- a budget surplus. The first type of deficit is a sign of waste and weakness; the second reflects an investment in the future.”

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Author:John F. Kennedy
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“The main purpose of advertising is to undermine markets. If you go to graduate school and you take a course in economics, you learn that markets are systems in which informed consumers make rational choices. That's what's so wonderful about it. But that's the last thing that the state corporate system wants. It is spending huge sums to prevent that.”

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Author:Noam Chomsky
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“Violent resistance against the power of the state is the last resort of the minority in its effort to break loose from the oppression of the majority. ... The citizen must not be so narrowly circumscribed in his activities that, if he thinks differently from those in power, his only choice is either to perish or to destroy the machinery of state.”

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Book:The free and prosperous commonwealth: an exposition of the ideas of classical liberalism
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“We have heard all of our lives how, after the Civil War was over, the South went back to straighten itself out and make a living again. It was for many years a voiceless part of the government. The balance of power moved away from it--to the north and the east. The problems of the north and the east became the big problem of the country and nobody paid much attention to the economic unbalance the South had left as its only choice.”

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Author:Lyndon B. Johnson
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“Quality is never an accident. It is always the result of intelligent effort.”

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Author:John Ruskin
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“No individual or private group or private organization has the legal power to initiate the use of physical force against other individuals or groups and to compel them to act against their own voluntary choice. Only a government holds that power. The nature of governmental action is: coercive action. The nature of political power is: the power to force obedience under threat of physical injury-the threat of property expropriation, imprisonment, or death.”

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Book:Capitalism: The Unknown Ideal
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“The modern joint stock firm is the outcome of innumerable decisions made by individual entrepreneurs, owners and managers. For these decision makers the choices among alternatives were limited and the outcomes uncertain, but almost always there were choices. Despite the variability of these individual decisions, taken cumulatively they produced clear patterns of institutional change”

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Author:Alfred D. Chandler, Jr.
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“Freedom is messy. In free societies, people will fall through the cracks - drink too much, eat too much, buy unaffordable homes, fail to make prudent provision for health care, and much else. But the price of being relieved of all those tiresome choices by a benign paternal government is far too high. Big Government is the small option: it's the guarantee of smaller freedom, smaller homes, smaller cars, smaller opportunities, smaller lives.”

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Author:Mark Steyn
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