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Economics Quotes

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Economics Quotes

“The timing & characteristics of state intervention affect not only organizational tactics and strategies, but the content and definition of interest itself... Some scholars have directly stressed that state interventions create corporatist forms... the formation, let alone the political capabilities, of such purely socioeconomic phenomena as interest groups and classes depends in significant measure on the structures and activities of the very states the social actors, in turn, seek to influence.”

“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.”

“Why, when the economist gives advice to his society, is he so often cooly ignored? He never ceases to preach free trade, and protectionism is growing in the United States. He deplores the perverse effects of minimum wage laws, and the legal minimum is regularly raised each 3 or 5 years. He brands usury laws as a medieval superstition, but no state hurries to repeal its law.”

“The real economic cleavage is not... between employers and employed, but between all who do constructive work, from scientist to laborer, on the one hand, and all whose main interest is the preservation of existing proprietary rights upon the other, irrespective of whether they contribute to constructive work or not.”

“Government should be good for the liberty of the governed, and that is when it governs to the least possible degree. It should be good for the wealth of the nation, and that is when it acts as little as possible upon the labor that produces it and when it consumes as little as possible. It should be good for the public security, and that is when it protects as much as possible, provided that the protection does not cost more than it brings in.... It is in losing their powers of action that governments improve. Each time that the governed gain space there is progress.”

“Greediness consists in ravishing the goods of another through violence or cunning, as in the two noble professions of the conqueror and courtier. But the merchant, like all other industrious men, seeks his benefit only in his talent, in virtue of freely arrived at agreements, and appealing to faith and the laws.”

“Government, on their part, are much disposed to favor the establishment of these large companies, and to give them privileges to the detriment of their rivals, and of the public, with the expectation of receiving from them loans, either gratuitous or at a low rate which these never refuse. It is thus that the one sells its protection and the other buys it; and this is already a very great evil.”

“To overturn orthodoxy is no easier in science than in philosophy, religion, economics, or any of the other disciplines through which we try to comprehend the world and the society in which we live.”

“I look in a right of property - on the right of individuals, to have and to own, for their own separate and selfish use and enjoyments, the produce of their own industry, with power freely to dispose of the whole of that in the manner most agreeable to themselves, as essential to the welfare and even to the continued existence of society.”

“All around us, aspects of the modern world - diet, exercise, medicine, art, work, family, philosophy, economics, ecology, psychology - have begun a long circle back toward their former coherence. Whether they can arrive before the natural world is damaged beyond repair and madness destroys humanity, we cannot tell.”

“Economics must not be relegated to classrooms and statistical offices and must not be left to esoteric circles. It is the philosophy of human life and action and concerns everybody and everything. It is the pith of civilization and of man's human existence.”