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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There is no expedient to which a man will not resort to avoid the real labor of thinking.
There is no expedient to which a man will not resort to avoid the real labor of thinking.
An economist is an expert who will know tomorrow why the things he predicted yesterday didn't happen today.
An economist is an expert who will know tomorrow why the things he predicted yesterday didn't happen today.
The Trojans lost the war because they fell for a really dumb trick. hey, there's a gigantic wooden horse outside read more
The Trojans lost the war because they fell for a really dumb trick. hey, there's a gigantic wooden horse outside and all the Greeks have left. Let's bring it inside! Not a formula for long-term survival. Now if they had formed a task force to study the Trojan Horse and report back to a committee, everyone wouldn't have been massacred.. Who says middle management is useless?
Every era has a currency that buys souls. In some the currency is pride, in others it is hope, in read more
Every era has a currency that buys souls. In some the currency is pride, in others it is hope, in still others it is a holy cause. There are of course times when hard cash will buy souls, and the remarkable thing is that such times are marked by civility, tolerance, and the smooth working of everyday life.
The greatest productive force is human selfishness.
The greatest productive force is human selfishness.
Every day is a gift- even if it sucks.
Every day is a gift- even if it sucks.
There is no glory in outstripping donkeys.
There is no glory in outstripping donkeys.
Sudden money is going from zero to two hundred dollars a week. The rest doesn't count.
Sudden money is going from zero to two hundred dollars a week. The rest doesn't count.
If patriotism is, as Dr. Johnson used to remark, the last refuge of the scoundrel, wrapping outdated industry in the read more
If patriotism is, as Dr. Johnson used to remark, the last refuge of the scoundrel, wrapping outdated industry in the mantle of national interest is the last refuge of the economically dispossessed. In economic terms, pleading national interest is the declining cottage industry of those who have been bypassed by the global economy.
