“Many politicians and pundits claim that the credit crunch and high mortgage foreclosure rate is an example of market failure and want government to step in to bail out creditors and borrowers at the expense of taxpayers who prudently managed their affairs. These financial problems are not market failures but government failure. ... The credit crunch and foreclosure problems are failures of government policy.” WantProblemGovernmentStepsPolicyExamplePoliticianEconomicsClaimsRateAffairFinancialCreditDebtExpensesTaxpayersMortgagePunditsCreditorsBailCrunchGovernment PolicyBorrowersForeclosureMarket FailureFinancial ProblemsCredit Crunch Author:Walter E. Williams
“Certain management policies-stretching of credit resources, for example-may lead to great progress in good conditions; but, like the Grand Prix car in comparison with the Land Rover, they may not be robust enough to survive when the going gets tough.” MayEnoughCertainProgressLandConditionsCarPolicyExampleToughResourcesManagementCreditComparisonStretchingRobustGoing Gets ToughGrand PrixGreat Progress Author:Anthony Stafford Beer
“Every notable advance in technique or organization has to be paid for, and in most cases the debit is more or less equivalent to the credit. Except of course when it's more than equivalent, as it has been with universal education, for example, or wireless, or these damned aeroplanes. In which case, of course, your progress is a step backwards and downwards.” Has BeensCoursesEducationStepsCasesProgressExampleOrganizationUniversalPaidCreditTechniqueBackwardsNotableAeroplanesWirelessUniversal EducationDebit Book:The collected works of Aldous Huxley Source: The collected works of Aldous Huxley
“We can think about how we reduce the pain in paying. So, for example, credit cards are wonderful mechanisms to reduce the pain of paying. If you go to a restaurant and you are paying cash, you would feel much worse than if you were paying with credit card. Why? You know the price, there's no surprise, but if you're paying cash, you feel a bit more guilt.” IfsThinkingKnowsFeelsPainBitsWonderfulExampleGuiltSurpriseCreditCardsRestaurantsCashMechanismCredit Card Author:Dan Ariely
“Writing a novel- actually picking the words and filling in paragraphs- is a tremendous pain in the ass. Now that TV's so good and the Internet is an endless forest of distraction, it's damn near impossible. That should be taken into account when ranking the all-time greats. Somebody like Charles Dickens, for example, who had nothing better to do except eat mutton and attend public hangings, should get very little credit.” ShouldWritingLittlesPainNovelTakenImpossibleExampleTvsInternetAccountsCreditEndlessForestsAssAll TimeDamnDistractionFillingParagraphDickensRankingFilling InMutton Author:Steve Hely
“There is a moral virtue, a moral fidelity, ability and honesty, which other men, besides church members, are, by good nature and education, by good laws and good examples nourished and trained up in; so that civil places and trust and credit need not be monopolized into the hands of church members (who sometimes are not fitted for public office), while all others are deprived and despoiled of their natural and civil rights and liberties.” MenNeedsSometimesHandsLawNaturalChurchAbilityLibertyMoralVirtueRightsHonestyExampleMembersOfficeCreditCivil RightsDeprivedFidelityGood ExamplesPublic OfficeGood NatureMoral VirtuesChurch Members Author:Roger Williams