quotes tagged with 'economics'

The process by which banks create money is so simple that the mind is repelled.

Author: John Kenneth Galbraith, Source: UnknownSaved by ImaWriterIII in money economics simple banks johnkennethgalbraith 9 years ago[save this] [permalink]

The moral and constitutional obligations of our representatives in Washington are to protect our liberty, not coddle the world, precipitating no-win wars, while bringing bankruptcy and economic turmoil to our people.

Author: Ron Paul, Source: 1987Saved by ImaWriterIII in constitution liberty economics congress wars representatives ronpaul bankruptcy 9 years ago[save this] [permalink]

Libraries will get you through times of no money better than money will get you through times of no libraries.

Author: Anne Herbert, Source: UnknownSaved by ImaWriterIII in money reading books library economics anneherbert 9 years ago[save this] [permalink]

Yet new international commodity controls are constantly being proposed.  This time, we are told, they are going to avoid all the old errors.  This time prices are going to be fixed that are "fair" not only for producers but for consumers.  Producing and consuming nations are going to agree on just what these fair prices are, because no one will be unreasonable.  Fixed prices will necessarily involve "just" allotments and allocations for production and consumption as among nations, but only cynics will anticipate any unseemly international disputes regarding these.  Finally, by the greatest miracle of all, this world of superinternational controls and coercions is also going to be a world of "free" international trade!


Just what the government planners mean by free trade in this connection I am not sure, but we can be sure of some of the things they do not mean.  They do not mean the freedom of ordinary people to buy and sell, lend and borrow, at whatever prices or rates they like and wherever they find it most profitable to do so.  They do not mean the freedom of the plain citizen to raise as much of a given crop as he wishes, to come and go at will, to settle where he pleases, to take his capital and other belongings with him.  They mean, I suspect, the freedom of bureaucrats to settle these matters for him.  And they tell him that if he docilely obeys the bureaucrats he will be rewarded by a rise in his living standards.  But if the planners succeed in tying up the idea of international cooperation with the idea of increased State domination and control over economic life, the international controls of the future seem only too likely to follow the pattern of the past, in which case the plain man's living standards will decline with his liberties.

Author: Henry Hazlitt, Source: Economics in One Lesson, (c) Henry Hazlitt 1962, page 116, Three Rivers PressSaved by ImaWriterIII in liberty government freedom tyranny economics politicalpower henryhazlitt pricecontrols bureaucrats 9 years ago[save this] [permalink]

The whole argument of this book may be summed up in the statement that in studying the effects of any given economic proposal we must trace not merely the immediate results but the results in the long run, not merely the primary consequences but the secondary consequences, and not merely the effects on some special group but the effects on everyone.

Author: Henry Hazlitt, Source: Economics in One Lesson, (c) Henry Hazlitt 1962, page 103, Three Rivers PressSaved by ImaWriterIII in economics henryhazlitt longterm effects 9 years ago[save this] [permalink]

In the face of all this, the United States government has been engaged for years in a "foreign economic aid" program the greater part of which has consisted in outright government-to-government gifts of many billions of dollars.  Here we are interested in just one aspect of htat program - the naive belif of many of its sponsors that this is a clever or even a necessary method of "increasing our exports" and so maintaining prosperity and employment.  It is still another form of the delusion that a nation can get rich by giving things away.

Author: Henry Hazlitt, Source: Economics in One Lesson, (c) Henry Hazlitt 1962, page 89Saved by ImaWriterIII in government economics henryhazlitt economicaid 9 years ago[save this] [permalink]

The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.

Author: F A Hayek, Source: The Fatal ConceitSaved by jr00ck in politics economics hayek austrianeconomics 9 years ago[save this] [permalink]

The ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is commonly understood. Indeed the world is ruled by little else. Practical men, who believe themselves to be quite exempt from any intellectual influence, are usually the slaves of some defunct economist.

Author: John Maynard Keynes, Source: The General Theory of Employment, Interest and MoneySaved by jr00ck in politics economics keynes keynesianeconomics 9 years ago[save this] [permalink]

I feel to warn you that one of the chief means of misleading our youth and destroying the family unit is our educational institutions. There is more than one reason why the Church is advising our youth to attend colleges close to their homes where institutes of religion are available. It gives the parents the opportunity to stay close to their children, and if they become alerted and informed, these parents can help expose the deceptions of men like Sigmund Freud, Charles Darwin, John Dewey, John Keynes and others. There are much worse things today that can happen to a child than not getting a full education. In fact, some of the worst things have happened to our children while attending colleges led by administrators who wink at subversion and amorality. Said Karl G. Maeser, "I would rather have my child exposed to smallpox, typhus fever, cholera or other malignant and deadly diseases than to the degrading influence of a corrupt teacher."

Author: Ezra Taft Benson, Source: Teachings of Ezra Taft Benson, p. 307Saved by cboyack in education propaganda money school economics deceit properroleofgovernment johnmaynardkeynes 10 years ago[save this] [permalink]

When a man feels that he has discovered a social order different from the one that has come into being through the natural tendencies of mankind, he must, perforce, in order to have his invention accepted, paint in the most somber colors the results of the order he seeks to abolish. Therefore, the political theorists to whom I refer, while enthusiastically and perhaps exaggeratedly proclaiming the perfectibility of mankind, fall into the strange contradiction of saying that society is constantly deteriorating. According to them, men are today a thousand times more wretched than they were in ancient times, under the feudal system and the yoke of slavery; the world has become a hell. If it were possible to conjure up the Paris of the tenth century, I confidently believe that such a thesis would prove untenable.

Secondly, they are led to condemn even the basic motive power of human actions—I mean self-interest—since it has brought about such a state of affairs. Let us note that man is made in such a way that he seeks pleasure and shuns pain. From this source, I agree, come all the evils of society: war, slavery, monopoly, privilege; but from this source also come all the good things of life, since the satisfaction of wants and the avoidance of suffering are the motives of human action. The question, then, is to determine whether this motivating force which, though individual, is so universal that it becomes a social phenomenon, is not in itself a basic principle of progress.

In any case, do not the social planners realize that this principle, inherent in man's very nature, will follow them into their new orders, and that, once there, it will wreak more serious havoc than in our natural order, in which one individual's excessive claims and self-interest are at least held in bounds by the resistance of all the others? These writers always assume two inadmissible premises: that society, as they conceive it, will be led by infallible men completely immune to the motive of self-interest; and that the masses will allow such men to lead them.

Finally, our social planners do not seem in the least concerned about the implementation of their program. How will they gain acceptance for their systems? How will they persuade all other men simultaneously to give up the basic motive for all their actions: the impulse to satisfy their wants and to avoid suffering? To do so it would be necessary, as Rousseau said, to change the moral and physical nature of man.

To induce all men, simultaneously, to cast off, like an ill-fitting garment, the present social order in which mankind has evolved since its beginning and adopt, instead, a contrived system, becoming docile cogs in the new machine, only two means, it seems to me, are available: force or universal consent.

Either the social planner must have at his disposal force capable of crushing all resistance, so that human beings become mere wax between his fingers to be molded and fashioned to his whim; or he must gain by persuasion consent so complete, so exclusive, so blind even, that the use of force is made unnecessary.

I defy anyone to show me a third means of setting up and putting into operation a phalanstery or any other artificial social order.

Author: Frederic Bastiat, Source: http://www.econlib.org/library/Bastiat/basHar.htmlSaved by cboyack in society action choice economy force economics politician economist 11 years ago[save this] [permalink]

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