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"mercy to the guilty is cruelty to the innocent"

"Before a science can develop principles, it must possess concepts. Before a law of gravitation could be formulated, it was necessary to have the notions of “acceleration” and “weight.”"

"Whereas economic man maximizes - selects the best alternative from among all those available to him, his cousin, administrative man, satisfices - looks for a course of action that is satisfactory or "…"

"A history of the Madden family"

"Adam Smith began his Wealth of Nations with an examination of the internal works of a pin factory, but he soon turned his attention to other things: the coordination of a market system and the economi…"

"The foundation of economic development is the acquisition of more productive knowledge."

"The common view that internal freedom makes for humane and moral international behavior is supported neither by evidence nor by reason. The United States has a long history of imposing oppressive terr…"

"French economist/philosopher Frederic Bastiat gave a test for immoral government acts: “See if the law benefits one citizen at the expense of another by doing what the citizen himself cannot do withou…"

"This is a time in human affairs when, In the context of the foregoing analysis, the “radical” point of view is likely to prove to be the “conservative” one: we may well be in the early stages of a “cy…"

"The possession of wealth confers honor; it is an invidious distinction."

"In Professor Pigou's study the argument that free enterprise lead to excessive investments in industry having relatively upward-sloping cost curves is developed with the aid of concrete example, the c…"

"More generally, Schumpeter seemed to be playing the role of grand seigneur, and he tended to flatter where flattery was not due, no doubt satirically. All this went along with his reputation as a casu…"

"In the modern industrial communities... the apparatus of living has grown so elaborate and cumbrous... that the consumers of these things cannot make way with them in the required manner without help."

"In real-world Finance, they don't pay for elegance. They pay for power - predictive power."

"Knowledge management often generates theories that are too general or abstract to be easily testable. In some cases, simulation modeling can help. an agent-based simulation model derived from a concep…"

"Radio Address of the Vice-Chairman of the Council of People's Commissars of the USSR and People's Commissar of Foreign Affairs V.M. Molotov"

"Once conclusions about the economic benefits of peace are drawn, it may be possible to transform the world through business-led initiatives, thereby helping to achieve peace and creating the environme…"

"Those who argue for a nonpolitical reading of Paul can point out that one of the first things he addresses in the beginning of the letter to the Romans is sexual perversion—usually seen as a moral rat…"

"The problem of complexity is at the heart of mankind’s inability to predict future events with any accuracy. Complexity science has demonstrated that the more factors found within a complex system, th…"

"Under communism , there is no incentive to supply people with anything they need or want, including safety."

"Essentially, economic analysis consists of: an understanding of the categories of action and an understanding of the meaning of a change in values, costs, technological knowledge, etc.; a description …"

"lot of what I've been writing about in Free Lunch and... Perfectly Legal and the 13 years of stories I've been doing in The New York Times are about... a growing disconnect between our political and c…"

"Trump has worked hard to make sure few... know about his lifelong entanglements with a major cocaine trafficker... with American and Russian mobsters and many mob associates, and with various con arti…"

"Although I realize that Austrian-school economists have themselves been highly critical of monetarism, many of its most fundamental claims are in fact fully consistent with their own understanding of …"

"The word science of administration has been used. There are many who object to the term. Now if by science is meant a conceptual scheme of things in which every particularity coveted may be assigned a…"

"It seems that neither the Keynesian nor the Marxian prognosis of the future of capitalism is being fulfilled and we are left without any particular theory as to what will happen next."

"It is much more accurate to identify the factors of production as know-how , energy, and materials, for, as we have seen, all processes of production involve the direction of energy by some know-how s…"

"Economics and ethics naturally come into rather intimate relations with each other since both recognizedly deal with the problem of value."

"By 1980, the work of Feldstein, Boskin, Summers, and others had convinced many economists that U.S. taxes were in fact a significant obstacle to investment. Nor was this all: another major U.S. policy…"

"Hayek was making us think of the productive process as a process in time, inputs coming before outputs."

"In mainstream economic theory, the firm and the market are, for the most part, assumed to exist and are not themselves the subject of investigation. One result has been that the crucial role of the la…"

"It is much more difficult to recede from a scale of expenditure once adopted than it is to extend the accustomed scale in response to an accession of wealth."

"The convictions of the multitudes — and on certain points like the desirability of organizing the world on a nationalist basis there is overwhelming agreement — are sincere convictions. They are, as w…"

"What the Chinese have done — they’ve studied us, they’ve studied the competition we had with the Soviet Union — they realized that if we ever became focused on their activities, then that would be tou…"

"Now is not the time to campaign to rejoin but we must keep the dream alive, especially for young people who are overwhelmingly pro-European. I hold in my heart the knowledge that one day I will be bac…"

"Martin Luther King Jr. said he had a dream that one day his four children would be judged by the content of their character, not by the color of their skin. ...Today we often value people less by thei…"

"Sound money is the sine qua non of a prosperous society."

"But like Marx, Veblen badly underestimated the capacity of a democratic system to correct its own excesses."

"People don't want to buy a quarter-inch drill, they want a quarter-inch hole."

"During 1968, more than forty-four hundred companies disappeared by mergers involving an estimated $43 billion in securities—an all-time record. In this tidal wave of mergers, which subsequently creste…"

"The construction of an economic model, or of any model or theory for that matter consists of snatching from the enormous and complex mass of facts called reality, a few simple, easily-managed key poin…"

"What made the West successful was neither capitalism, nor science, nor an historical accident such as a favourable geography. Instead, political and mental diversity combined to create an ever changin…"

"The bumping of lower-quality men out of their marriages through competitive reductions in the incomes of higher-quality men continues until the incomes of the lowest quality men are reduced to their s…"

"Schumpeter’s work, his dynamic view of the entrepreneur and creative destruction has had a great impact on me. He indeed wrote a book, Capitalism, Socialism and Democracy, which intended to give a com…"

"Thus, if there exists a law which sanctions slavery or monopoly, oppression or robbery, in any form whatever, it must not even be mentioned. For how can it be mentioned without damaging the respect wh…"

"Stealing from capitalism is not like stealing out of our own pockets. Marx and Lenin have taught us that anything is ethical, so long as it is in the interest of the proletarian class and its world re…"

"At The New America Foundation"

"Everybody get up against the fucking wall. The FBI is in control. All the white people get out of here."

"If something cannot go on forever, it will stop."

"I should make it clear that we do not accept that Britain has a special responsibility to meet the costs of land purchase in Zimbabwe. We are a new government from diverse backgrounds without links to…"

"Myths are not the stuff of which sensible policy is made."

"It need hardly be said that the social philosophy of the time did not remain unaffected by the political evolution and the industrial development. Slowly sinking into men's minds all this while was th…"

"When one remembers that the word "Nazi" was an abbreviation for "der Nationalsozialistische Deutsche Arbeiters Partei" — in English translation: the National Socialist German Workers' Party — Mises's …"

"Keynes's economic philosophy is thus made up of three interdependent parts: his technical macroeconomics, his embattled political philosophy and his ultimate ethical purpose."

"a sustained increase in per capita or per worker product, most often accompanied by an increase in population and usually sweeping structural changes."

"Frequently Lenin identified state capitalism and socialism... In Towards the Seizure of Power, he writes: “Socialism is nothing but state capitalist monopoly made to benefit the whole people; by this …"

"Equilibrium is a figment of the human imagination."

"One interesting footnote: although Friedman made great strides in macroeconomics by applying the concept of individual rationality, he also knew where to stop. In the 1970s, some economists pushed Fri…"

"It is generally conceded that mercantile capitalism preceded and prepared the ground for modern industrial capitalism."

"The second reason I focus on capitalism is that the responses to today's economic collapse by Trump, the GOP and most Democrats carefully avoid any criticism of capitalism. They all debate the virus, …"