Price fixing does not represent simply windfall gains and losses to particular groups according to whether the price happens to read more

Price fixing does not represent simply windfall gains and losses to particular groups according to whether the price happens to be set higher or lower than it would be otherwise. It represents a net lose to the economy as a whole to the extent that many transactions do not take place at all, because the mutually acceptable possibilities have been reduced.

The absolute fundamental aim is to make money out of satisfying customers.

The absolute fundamental aim is to make money out of satisfying customers.

A gift blinds the wise and perverts the words of the righteous.

A gift blinds the wise and perverts the words of the righteous.

Perhaps the most widespread misunderstanding of economics is that it applies solely to financial transactions. Frequently this leads to statements read more

Perhaps the most widespread misunderstanding of economics is that it applies solely to financial transactions. Frequently this leads to statements that "there are noneconomic values" to consider. There are, of course, noneconomic values. Indeed, there are only noneconomic values. Economics is not a value itself but merely a method of trading off one value against another.

There is no greater fraud than a promise not kept.

There is no greater fraud than a promise not kept.

Some great men owe most of their greatness to the ability of detecting in those they destine for their tools read more

Some great men owe most of their greatness to the ability of detecting in those they destine for their tools the exact quality of strength that matters for their work.

Economics is first and foremost about the thoughts leading up to choice.

Economics is first and foremost about the thoughts leading up to choice.

Prices are important not because money is considered paramount but because prices are a fast and effective conveyor of information read more

Prices are important not because money is considered paramount but because prices are a fast and effective conveyor of information through a vast society in which fragmented knowledge must be coordinated.

A poet's work is to name the unnameable, to point at frauds, to take sides, start arguments, shape the world, read more

A poet's work is to name the unnameable, to point at frauds, to take sides, start arguments, shape the world, and stop it going to sleep.