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.
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What matters is not the allocation of portions out of a fund presented to man by nature. The problem is read more
What matters is not the allocation of portions out of a fund presented to man by nature. The problem is rather to further those social institutions which enable people to continue and to enlarge the production of all those things which they need.
American prosperity and American free enterprise are both highly unusual in the world, and we should not overlook the possibility read more
American prosperity and American free enterprise are both highly unusual in the world, and we should not overlook the possibility that the two are connected.
In a trader-dominated society, the scribe is usually kept out of the management of affairs, but it given a more read more
In a trader-dominated society, the scribe is usually kept out of the management of affairs, but it given a more or less free hand in the cultural field. By frustrating the scribe's craving for commanding action, the trader draws upon himself the scribe's wrath and scorn.
Avarice has ruined more souls than extravagance.
Avarice has ruined more souls than extravagance.
The City's reluctance to take a stand on an issue like the British Gas pay row makes a mockery of read more
The City's reluctance to take a stand on an issue like the British Gas pay row makes a mockery of corporate governance and shareholders' ability to influence annual general meetings. Institutions should be obliged to make public how they vote at such events. They should be obliged to provide customers with a record of how they vote on every kind of issue.
One rose says more than the dozen.
One rose says more than the dozen.
Why does a slight tax increase cost you two hundred dollars and a substantial tax cut save you thirty cents.
Why does a slight tax increase cost you two hundred dollars and a substantial tax cut save you thirty cents.
The creditor hath a better memory than the debtor.
The creditor hath a better memory than the debtor.
The only thing money gives you is the freedom of not worrying about money.
The only thing money gives you is the freedom of not worrying about money.
