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Economics Quotes

“I write with two things in mind. I want to be right with my fellow economists. After all, I've made my life as a professional economist, so I'm careful that my economics is as it should be. But I have long felt that there's no economic proposition that can't be stated in clear, accessible language. So I try to be right with my fellow economists, but I try to have an audience of any interested, intelligent person.”

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Author:John Kenneth Galbraith
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“I like Mitt Romney as a person. I think he's a dignified person. But I have no common ground on economics. He doesn't worry about the Federal Reserve. He doesn't worry about foreign policy. He doesn't talk about civil liberties, so I would have a hard time to expect him to ever invite me to campaign with him.”

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Author:Ron Paul
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“Since I was a law student, I have been against the death penalty. It does not deter. It is severely discriminatory against minorities, especially since they're given no competent legal counsel defense in many cases. It's a system that has to be perfect. You cannot execute one innocent person. No system is perfect. And to top it off, for those of you who are interested in the economics it, it costs more to pursue a capital case toward execution than it does to have full life imprisonment without parole.”

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Author:Ralph Nader
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“But how is this legal plunder to be identified? Quite simply. See if the law takes from some persons what belongs to them and gives it to other persons to whom it does not belong. See if the law benefits one citizen at the expense of another by doing what the citizen himself cannot do without committing a crime.”

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Book:The Law
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“The world has changed far more in the past 100 years than in any other century in history. The reason is not political or economic but technological-technologies that flowed directly from advances in basic science. Clearly, no scientist better represents those advances than Albert Einstein: TIME's Person of the Century.”

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Author:Stephen Hawking
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“We disapprove of state education. Then the socialists say that we are opposed to any education. We object to a state religion. Then the socialists say that we want no religion at all. We object to a state-enforced equality. Then they say that we are against equality. And so on, and so on. It is as if the socialists were to accuse us of not wanting persons to eat because we do not want the state to raise grain.”

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Book:The Law
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“Socialism, like the ancient ideas from which it springs, confuses the distinction between government and society. As a result of this, every time we object to a thing being done by government, the socialists conclude that we object to its being done at all . . . . It is as if the socialists were to accuse us of not wanting persons to eat because we do not want the state to raise grain”

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Book:The Law
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“But we assure the socialists that we repudiate only forced organization, not natural organization. We repudiate the forms of association that are forced upon us, not free association. We repudiate forced fraternity, not true fraternity. We repudiate the artificial unity that does nothing more than deprive persons of individual responsibility. We do not repudiate the natural unity of mankind under Providence.”

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Author:Frederic Bastiat
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“It is not true that the legislator has absolute power over our persons and property, since they pre-exist, and his work is only to secure them from injury. It is not true that the mission of the law is to regulate our consciences, our ideas, our will, our education, our sentiments, our works, our exchanges, our gifts, our enjoyments. Its mission is to prevent the rights of one from interfering with those of another, in any one of these things.”

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Book:The Law
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“People who are very aware that they have more knowledge than the average person are often very unaware that they do not have one-tenth of the knowledge of all of the average persons put together. In this situation, for the intelligentsia to impose their notions on ordinary people is essentially to impose ignorance on knowledge.”

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Author:Thomas Sowell
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“Three-fifths to two-thirds of the federal budget consists of taking property from one American and giving it to another. Were a private person to do the same thing, we'd call it theft. When government does it, we euphemistically call it income redistribution, but that's exactly what thieves do - redistribute income. Income redistribution not only betrays the founders' vision, it's a sin in the eyes of God.”

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Author:Walter E. Williams
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“Government is necessary, but the only rights we can delegate to government are the ones we possess. For example, we all have a natural right to defend ourselves against predators. Since we possess that right, we can delegate authority to government to defend us. By contrast, we don't have a natural right to take the property of one person to give to another; therefore, we cannot legitimately delegate such authority to government.”

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Author:Walter E. Williams
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“Conservatives and liberals are kindred spirits as far as government spending is concerned. First, let's make sure we understand what government spending is. Since government has no resources of its own, and since there's no Tooth Fairy handing Congress the funds for the programs it enacts, we are forced to recognize that government spending is no less than the confiscation of one person's property to give it to another to whom it does not belong - in effect, legalized theft.”

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Author:Walter E. Williams
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“... what we should be looking for is fresh ideas of how we make moral decisions about our dealings with one another, economic, social, cultural. Economic determinism is an objectionable creed where men and women espouse it in its communist or capitalist form because it treats human beings as economic units and not as responsible persons.”

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Author:Davis McCaughey
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“What would you think of a person who earned $24,000 a year but spent $35,000? Suppose on top of that, he was already $170,000 in debt. You'd tell him to get his act together - stop spending so much or he'd destroy his family, impoverish his kids and wreck their future. Of course, no individual could live so irresponsibly for long. But tack on eight more zeroes to that budget and you have the checkbook for our out-of-control, big-spending federal government.”

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Author:John Stossel
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“The chief arguments that are urged against an established religion, may be used with equal force against an established charity. The dissenter submits, that no party has a right to compel him to contribute to the support of doctrines, which do not meet his approbation. The rate-payer may as reasonably argue, that no one is justified in forcing him to subscribe towards the maintenance of persons, whom he does not consider deserving of relief.”

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Book:The Proper Sphere of Government: a Reprint of a Series of Letters, Originally Published in
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