Neither "property" nor the value of property is a physical thing. Property is a set of defined options...It is that set of options which has economic value...It is the options, and not the physical things, which are the "property" - economically as well as legally...But because the public tends to think of property as tangible, physical things, this opens the way politically for government confiscation of property by forcibly taking away options while leaving the physical objects untouched.
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Delegating means letting others become the experts and hence the best.
Delegating means letting others become the experts and hence the best.
Fair play with others is primarily the practice of not blaming them for anything that is wrong with us. We read more
Fair play with others is primarily the practice of not blaming them for anything that is wrong with us. We tend to rub our guilty conscience against others the way we wipe dirty fingers on a rag. This is as evil a misuse of others as the practice of exploitation.
All I ask is equal freedom. When it is denied, as it always is, I take it anyhow.
All I ask is equal freedom. When it is denied, as it always is, I take it anyhow.
The art of economics consists in looking not merely at the immediate but at the longer effects of any act read more
The art of economics consists in looking not merely at the immediate but at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups.
Capital is a result of labor, and is used by labor to assist it in further production. Labor is the read more
Capital is a result of labor, and is used by labor to assist it in further production. Labor is the active and initial force, and labor is therefore the employer of capital.
Power always has to be kept in check; power exercised in secret, especially under the cloak of national security, is read more
Power always has to be kept in check; power exercised in secret, especially under the cloak of national security, is doubly dangerous.
Politics is not a game. It is an earnest business.
Politics is not a game. It is an earnest business.
Property rights are not the rights of property; they are the rights of humans with regard to property. They are read more
Property rights are not the rights of property; they are the rights of humans with regard to property. They are a particular kind of human right.
Freedom of the press is guaranteed only to those who own one.
Freedom of the press is guaranteed only to those who own one.
