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Economics Quotes

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Economics Quotes

“It's no accident that capitalism has brought with it progress, not merely in production but also in knowledge. Egoism and competition are, alas, stronger forces than public spirit and sense of duty.”

“Consider Social Security. The young have always contributed to the support of the old. Earlier, the young helped their own parents out of a sense of love and duty. They now contribute to the support of someone else's parents out of compulsion and fear. The voluntary transfers strengthened the bonds of the family; the compulsory transfers weaken those bonds.”

“Social Science, is not a 'gay science' but rueful, which finds the secret of this universe in 'supply and demand' and reduces the duty of human governors to that of letting men alone. Not a 'gay science', no, a dreary, desolate, and indeed quite abject and distressing one; what we might call, the dismal science”

“The discipline of colleges and universities is in general contrived, not for the benefit of the students, but for the interest, or more properly speaking, for the ease of the masters. Its object is, in all cases, to maintain the authority of the master, and whether he neglects or performs his duty, to oblige the students in all cases to behave toward him as if he performed it with the greatest diligence and ability.”