Tag Archives: political_economy_quote_of_the_week

Political Economy Quote of the Week for 20160606

“One thing that confuses me is this: Sincere political theorists, after studying economic problems solely from the producers’ point of view, arrive at the following two conclusions: ‘Governments should compel the consumers who are subject to their laws to do … Continue reading

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Political Economy Quote of the Week for 20160530

“… in order to oppose the restrictions that you have chosen to place upon a certain part of international trade, we base our argument on the practice and experience of every individual and every group of individuals whose acts are … Continue reading

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Political Economy Quote of the Week for 20160523

“All procure for themselves by way of exchange whatever it would cost them more to procure by way of direct production. And nations would do the same if you did not prevent them by force.” – Frédéric Bastiat, Economic Sophisms.

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Political Economy Quote of the Week for 20160516

“Does the farmer make his own clothes? Does the tailor raise the wheat that he consumes? Does your housekeeper continue to bake bread at home when she finds she can buy it more cheaply at the bakery? Do you propose … Continue reading

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Political Economy Quote of the Week for 20160509

“At any time, there is only a limited supply of labor, raw materials, and capital resources that can be combined in various ways to create output goods. A primary function of an economic system is to determine which goods should … Continue reading

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Political Economy Quote of the Week for 20160502

“The traditional opponents of socialism argued that it had insufficient incentives for the average worker; without tying pay to performance, people would shirk and output would be far lower than in a capitalist economy. Only if a new “Socialist Man” … Continue reading

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Political Economy Quote of the Week for 20160425

“One must also realize that the incentives of the Food and Drug Administration render it far too conservative: If people die because of a new drug that the FDA has approved, the FDA will be blamed. But if people die … Continue reading

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