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Economics Quotes

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Economics Quotes

“I doubt whether there is any subject in the world of equal importance that has received so little serious and articulate consideration as the economic status of the family - of its members in relation to each other and of the whole unit in relation to the other units of which the community is made up.”

“Liberalism and capitalism address themselves to the cool, well-balanced mind. They proceed by strict logic, eliminating any appeal to the emotions. Socialism, on the contrary, works on the emotions, tries to violate logical considerations by rousing a sense of personal interest and to stifle the voice of reason by awakening primitive instincts.”

“One of the first laws against air pollution came in 1300 when King Edward I decreed the death penalty for burning of coal. At least one execution for that offense is recorded. But economics triumphed over health considerations, and air pollution became an appalling problem in England.”