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Economy Quotes

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Economy Quotes

“I call this the Fundamental Problem of Political Economy. How do we limit the power that idiots have over us? ... [Milton] Friedmans insight is that a market limits the power that others have over us; conversely, limiting the power that others have over us allows us to have markets. Friedman argued that no matter how wise the officials of government may be, market competition does a better job of protecting us from idiots.”

“Political Economy as a branch of science is extremely modern; but the subject with which its enquiries are conversant has in all ages necessarily constituted one of the chief practical interests of mankind.”

“Nowadays, of course, just about our only solvent industry is the merchandising of death, bankrolled by our grandchildren, so that the message of our principal art forms, movies and television and political speeches and newspaper columns, for the sake of the economy, simply has to be this: War is hell, all right, but the only way a boy can become a man is in a shoot-out of some kind, preferably, but by no means necessarily, on a battlefield.”

“When the strongest nation in the world can be tied up for years in a war with no end in sight, when the richest nation in the world can't manage its own economy, when the nation with the greatest tradition of the rule of law is plagued by unprecedented lawlessness, and when the President of the United States cannot travel abroad or to any major city at home without fear of a hostile demonstration - then it's time for new leadership for the United States of America.”