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Economy Quotes

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Economy 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.”

“Political democracy cannot flourish under all economic conditions. Democracy requires an economic system which supports the political ideals of liberty and equality for all. Men cannot exercise freedom in the political sphere when they are deprived of it in the economic sphere.”

“And what has come to prevail in democracies is the very reverse of beneficial, in those, that is, which are regarded as the most democratically run. The reason for this lies in the failure properly to define liberty. For there are two marks by which democracy is thought to be defined: "sovereignty of the majority" and "liberty." "Just" is equated with what is equal, and the decision of the majority as to what is equal is regarded as sovereign; and liberty is seen in terms of doing what one wants.”

“And these great natural rights may be reduced to three principal or primary articles: the right of personal security; the right of personal liberty; and the right of private property; because as there is no other known method of compulsion, or of abridging man's natural free will, but by an infringement or diminution of one or other of these important rights, the preservation of these, inviolate, may justly be said to include the preservation of our civil immunities in their largest and most extensive sense.”

“Historically the great movements for human liberation have always been movements to change institutions and not to preserve them intact. It follows from what has been said that there have been movements to bring about a changed distribution of power to do - and power to think and to express thought is a power to do- so that there would be a more balanced, a more equal, even, and equitable system of human liberties.”

“We know that the only alternative to private competition is government monopoly of enterprise. We know that when government monopolizes production, distribution, and employment, it is no longer the servant of men - it is their master. And, therefore, we know that economic liberty and political liberty are inseparable parts of the same ball of wax - that we must keep them both, or we shall lose them both.”

“The commotions that have taken place in America, as far as they are yet known to me, offer nothing threatening. They are a proof that the people have liberty enough, and I could not wish them less than they have. If the happiness of the mass of the people can be secured at the expense of a little tempest now and then, or even of a little blood, it will be a precious purchase. 'Malo libertatem periculosam quam quietem servitutem.' Let common sense and common honesty have fair play, and they will soon set things to rights.”

“It has been the fashion to speak of the conflict between human rights and property rights, and from this it has come to be widely believed that the use of private property is tainted with evil and should not be espoused by rational and civilized men... the only dependable foundation of personal liberty is the personal economic security of private property. The Good Society.”

“Nine-tenths of the people are at present freeholders... The time is not distant when this country will abound with mechanics and manufacturers who will receive their bread from their employers. Will such men be the secure and faithful guardians of liberty? Give the votes to people who have no property, and they will sell them to the rich who will be able to buy them.”

“Our Founding Fathers well understood that concentrated power is the enemy of liberty and the rights of man. They knew that the American experiment in individual liberty, free enterprise and republican self-government could succeed only if power were widely distributed. And since in any society social and political power flow from economic power, they saw that wealth and property would have to be widely distributed among the people of the country. The truth of this insight is immediately apparent.”

“The good citizen will demand liberty for himself, and as a matter of pride he will see to it that others receive the liberty which he thus claims as his own. Probably the best test of true love of liberty in any country is the way in which minorities are treated in that country. Not only should there be complete liberty in matters of religion and opinion, but complete liberty for each man to lead his life as he desires, provided only that in so doing he does not wrong his neighbor.”

“It is perfectly clear that people, given no alternative, will choose tyranny over anarchy, because anarchy is the worst tyranny of all... The special nature of liberties is that they can be defended only as long as we still have them. So the very first signs of their erosion must be resisted, whether the issue be domestic surveillance by the Army, so-called preventive detention, or the freedom of corporate television, or that of a campus newspaper.”

“One of the greatest disasters that happened to modern civilization was for democracy to inscribe "liberty" on its banners instead of "justice." Because "liberty" was considered the ideal it was not long until some men interpreted it as meaning "freedom from justice"; then when religion and decent government attempted to bring them back to justice, organized into "freedom groups" they protested that their constitutional and natural rights were being violated.”

“Government means always coercion and compulsion and is by necessity the opposite of liberty. Government is a guarantor of liberty and is compatible with liberty only if its range is adequately restricted to the preservation of economic freedom. Where there is no market economy, the best-intentioned provisions of constitutions and laws remain a dead letter.”

“I have always considered Christianity as the strong ground of republicanism. The spirit is opposed, not only to the splendor, but even to the very forms of monarchy, and many of its precepts have for their objects republican liberty and equality as well as simplicity, integrity, and economy in government. It is only necessary for republicanism to ally itself to the Christian religion to overturn all the corrupted political and religious institutions of the world.”

“Particularly when the war power is invoked to do things to the liberties of people, or to their property or economy that only indirectly affect conduct of the war and do not relate to the engagement of the war itself, the constitutional basis should be scrutinized with care. ... I would not be willing to hold that war powers may be indefinitely prolonged merely by keeping legally alive a state of war that had in fact ended. I cannot accept the argument that war powers last as long as the effects and consequences of war for if so they are permanent -- as permanent as the war debts.”

“Property is surely a right of mankind as real as liberty. Perhaps, at first, prejudice, habit, shame or fear, principle or religion, would restrain the poor from attacking the rich, and the idle from usurping on the industrious; but the time would not be long before courage and enterprise would come, and pretexts be invented by degrees, to countenance the majority in dividing all the property among them, or at least, in sharing it equally with its present possessors.”

“Property must be secured or liberty cannot exist. But if unlimited or unbalanced power of disposing property, be put into the hands of those who have no property, France will find, as we have found, the lamb committed to the custody of the world. In such a case, all the pathetic exhortations and addresses of the national assembly to the people, to respect property, will be regarded no more than the warbles of the songsters of the forest.”

“We may... affirm that the balance of power in a society accompanies the balance of property in land. The only possible way, then, of preserving the balance of power on the side of liberty and public virtue is to make the acquisition of land easy to every member of society; to make a division of the land into small quantities, so that the multitude may be possessed of landed estates.”

“If the multitude is possessed of the balance of real estate, the multitude will have the balance of power, and in that case the multitude will take care of the liberty, virtue, and interest of the multitude in all acts of government.”

“Whensoever, therefore, the legislative shall transgress this fundamental rule of society, and either by ambition, fear, folly, or corruption, endeavour to grasp themselves, or put into the hands of any other, an absolute power over the lives, liberties, and estates of the people, by this breach of trust they forfeit the power the people had put into the hands... and it devolves to the people, who have a right to resume their original liberty, and... provide for their own safety and security.”