The ideas of debtor and creditor as to what constitutes a good time never coincide.
P.G. WodehouseTag: humor money economics debt
It's unwise to pay too much, but it's worse to pay too little. When
you pay too much, you lose a little money - that's all. When you pay
too little, you sometimes lose everything, because the thing you
bought was incapable of doing the thing it was bought to do. The
common law of business balance prohibits paying a little and getting a
lot - it can't be done. If you deal with the lowest bidder, it is well
to add something for the risk you run, and if you do that you will
have enough to pay for something better.
Tag: economics humour business
What all these lofty and vague phrases boil down to is that the court can impose things that the voters don't want and the Constitution does not require, but which are in vogue in circles to which the court responds.
Thomas SowellTag: economics government
Can we actually suppose that we are wasting, polluting, and making ugly this beautiful land for the sake of patriotism and the love of God? Perhaps some of us would like to think so, but in fact this destruction is taking place because we have allowed ourselves to believe, and to live, a mated pair of economic lies: that nothing has a value that is not assigned to it by the market; and that the economic life of our communities can safely be handed over to the great corporations. (from 'Compromise, Hell!' published in the November/December 2004 issue of ORION magazine)
Wendell BerryTag: lies economics sustainability corporations
Clearly, only very unequal intellectual and moral standing could justify having equality imposed, whether the people want it or not, as Dworkin suggests, and only very unequal power would make it possible.
Thomas SowellIt is because every individual knows little and, in particular, because we rarely know which of us knows best that we trust the independent and competitive efforts of many to induce the emergence of what we shall want when we see it.
Friedrich A. HayekTag: liberty freedom economics market
Our faith in freedom does not rest on the foreseeable results in particular circumstances but on the belief that it will, on balance, release more forces for the good than for the bad.
Friedrich A. HayekTag: liberty freedom economics free-market
A market economy is to economics what democracy is to government: a decent, if flawed, choice among many bad alternatives.
Charles WheelanTag: democracy economics free-market markets
When I applied to graduate school many years ago, I wrote an essay expressing my puzzlement at how a country that could put a man on the moon could still have people sleeping on the streets. Part of that problem is political will; we could take a lot of people off the streets tomorrow if we made it a national priority. But I have also come to realize that NASA had it easy. Rockets conform to the unchanging laws of physics. We know where the moon will be at a given time; we know precisely how fast a spacecraft will enter or exist the earth's orbit. If we get the equations right, the rocket will land where it is supposed to--always. Human beings are more complex than that. A recovering drug addict does not behave as predictably as a rocket in orbit. We don't have a formula for persuading a sixteen-year-old not to drop out of school. But we do have a powerful tool: We know that people seek to make themselves better off, however they may define that. Our best hope for improving the human condition is to understand why we act the way we do and then plan accordingly. Programs, organizations, and systems work better when they get the incentives right. It is like rowing downstream.
Charles WheelanTag: politics humanity economics goverment incentives social-policy
I contend that for a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle.
Winston S. ChurchillTag: simile economics taxation
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