"Education to the extent that it raises an individual's future earnings, increases her future tax payments; in the absence of any subsidy, an individual's investment in education confers a 'dividend' on future taxpayers."

Nicholas Barr Economics See all quotes by Nicholas Barr →

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“Markets can be efficient or inefficient; so can governments. thus market failure is a counterpoint to government failure.”

“Money income is a flawed measure of individual welfare.”

“Thus social insurance, in sharp contrast with actuarial insurance, can cover not only risk but also uncertainty.”

“Perfect competition must hold in product and factor markets, and also in capital markets. The assumption has two essential features: economic agents must be price takers; and they must have equal power.”

“It is argued that regulators are frequently captured by those whom they are supposed to regulate.”

“The European Commission uses an explicit relative poverty line of 60 per cent of national average income.”

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Science1958

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"Research is formalized curiosity. It is poking and prying with a purpose. It is a seeking that he who wishes may know the cosmic secrets of the world and they that dwell therein."

— Zora Neale Hurston

Entertainment1891–1960

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"In almost all textbooks, even the best, this principle is presented so that it is impossible to understand." . I have not chosen to break with tradition."

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