Quoty: quotes tagged with 'economics'

When a man feels that he has discovered a socia...

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.html
Saved by cboyack in society action choice economy force economics politician economist

Politics is the art and science of managing cen...

Politics is the art and science of managing centralized coercion.

Author: Paul A. Rosenberg, Source: A Lodging of Wayfaring Men
Saved by inyucho in politics economy force economics political coercion libertarianism libertarian

The major characteristic of modern male-female ...

The major characteristic of modern male-female relationships is a monopoly arrangement.

Author: Paul A. Rosenberg, Source: A Lodging of Wayfaring Men
Saved by inyucho in freedom monopoly economy relationship economics relations sex libertarianism libertarian hippie

If there is any such thing as "intellectual pro...

If there is any such thing as "intellectual property" or "intellectual territory", then it can only be rightly defended by intellectual battle, never by physical force.

Author: Sean Hastings, Source: Preface of "A Lodging of Wayfaring Men" by Paul A. Rosenberg
Saved by inyucho in politics economy force economics property intellectual political libertarianism libertarian copyright ip

But to revert to the economic effects of saving...

But to revert to the economic effects of saving: Now that we know all the details of this phenomenon, it is very evident that it in no wise harms industry in general or human labor. Even if the person making the saving received cash in exchange for the services he had rendered, and hoarded it, he would be doing society no harm, since he was able to collect these values from it only by contributing equal values to it. I must add that this kind of hoarding is unlikely, exceptional, abnormal, for it is contrary to the self-interest of those who indulge in it. Pieces of money in a man's hand mean: He who possesses us has rendered services to society and has not yet been paid for them. Society has placed us in his hands as a token. We are at one and the same time an acknowledgment, a promise, and a guarantee. On the day he chooses, he may, by producing and surrendering us, receive from society the services to which he is entitled.
Author: Frederic Bastiat, Source: http://www.econlib.org/library/Bastiat/basHar15.html
Saved by cboyack in money value hoard service economics savings

A science of economics must be developed before...

A science of economics must be developed before a science of politics can be logically formulated. Essentially, economics is the science of determining whether the interests of human beings are harmonious or antagonistic. This must be known before a science of politics can be formulated to determine the proper functions of government.

Immediately following the development of a science of economics, and at the very beginning of the formulation of a science of politics, this all-important question must be answered: What is law? What ought it to be? What is its scope; its limits? Logically, at what point do the just powers of the legislator stop?

I do not hesitate to answer: Law is the common force organized to act as an obstacle to injustice. In short, law is justice.
Author: Frederic Bastiat, Source: The Law, p. 67
Saved by cboyack in politics liberty government society science economy law force economics injustice

You and I, as individuals, can, by borrowing, l...

You and I, as individuals, can, by borrowing, live beyond our means, but for only a limited period of time. Why, then, should we think that collectively, as a nation, we're not bound by that same limitation?
Author: Ronald Regan First Inagural Address, January 20, 1981, Source: http://www.millercenter.virginia.edu/scripps/digitalarchive/sp...
Saved by rpage in liberty freedom president debt economics ronaldregan

Learning to think like a wise steward as oppose...

Learning to think like a wise steward as opposed to thinking like a selfish owner is a significant step toward understanding how liabilities can be used productively. Since nothing can ever be technically yours, the goal becomes to make the best use of every resource you have access to, because you understand that you will be held accountable for your productivity, or lack thereof.
Author: Garrett B. Gunderson, Source: Killing Sacred Cows
Saved by rpage in debt economics finances

It doesn�t take living off of rice and beans an...

It doesn�t take living off of rice and beans and selling things to be prosperous. In fact, let�s explore what it actually means to be prosperous. To me, prosperity and happiness are basically synonymous. I say this because I�ve met many people who have a lot of money, but are miserable. Money doesn�t bring happiness. As far as I�m concerned, if you�re not happy then you�re not prospering, regardless of how much money you make or have.
Author: Garrett B. Gunderson, Source: Killing Sacred Cows
Saved by rpage in happiness prosperity economics

Consider this deeply: if it�s true that debt i...

Consider this deeply: if it�s true that debt is any form of borrowing, and it�s true that debt is evil, then why do we say one thing and do another every day of our lives? In other words, why do we try to stay out of debt ourselves, yet then put money in banks and other financial institutions (i.e. lend them our money), thereby putting the financial institutions in debt? Isn�t that the epitome of hypocrisy�having others do things for us that we think are evil? If it�s true that any form of borrowing is debt, and that it is evil, then to stay true to ourselves and keep our integrity, none of us should practice any form of it, neither by borrowing ourselves nor by lending money to other people and/or institutions . . .

(continued later on)

I want to be very clear about this�I�m not advising people to go out and buy houses, cars, or anything else just to be �abundant.� I�m saying that your paradigm makes all the difference between poverty and mediocrity or wealth, and that amazing things happen when we break through scarcity-induced myths and enter the world of true and responsible abundance. My own life is a witness to the fact that when we switch from ridding ourselves of liabilities and focus instead on productivity, our entire outlook and results change dramatically for the better.
Author: Garrett B. Gunderson, Source: Killing Sacred Cows
Saved by rpage in debt economics finances

Consumers think that the worst form of loss is ...

Consumers think that the worst form of loss is the loss of material resources. Producers understand that material things have no intrinsic value, and that people are the only true asset. Therefore, to a Producer, the loss of material things is not the issue. Rather, they are more concerned about the lost production originating in Human Life Value.
Author: Garrett B. Gunderson, Source: Killing Sacred Cows
Saved by rpage in economics humanlifevalue

True capitalists who deeply understand prosperi...

True capitalists who deeply understand prosperity don't operate a business in order to put another institution out of business. They bring products and services to the market in order to serve others. They understand that it is in their best interests to serve others. They believe in efficient and effective service. (This book isn't out yet. I have an advanced copy of the manuscript).
Author: Garrett Gunderson, Source: Killing Sacred Cows, page 27
Saved by rpage in integrity prosperity business capitalism economics

The private control of credit is the modern for...

The private control of credit is the modern form of slavery.
Author: Upton Sinclair, Source: Unknown
Saved by cboyack in slavery debt economics credit

It is a rule of our financial and economic life...

It is a rule of our financial and economic life in all the world that interest is to be paid on borrowed money. May I say something about interest? Interest never sleeps nor sickens nor dies; it never goes to the hospital; it works on Sundays and holidays; it never takes a vacation; it never visits or travels; it takes no pleasure; it is never laid off work nor discharged from employment; it never works on reduced hours; . . . Once in debt, interest is your companion every minute of the day and night; you cannot shun it or slip away from it; you cannot dismiss it; it yields neither to entreaties, demands, or orders, and whenever you get in its way or cross its course or fail to meet its demands, it crushes you.
Author: J. Reuben Clark, Jr., Source: Conference Report, April 1938
Saved by cboyack in debt economics interest finances