Economist Quotes

“How a man who holds the entire population of a country as his prisoners, and punishes the families of those who escape, can be admired by people who call themselves liberals is one of the many wonders of the human mind's ability to rationalize. Yet such is the case with Fidel Castro.”

“Those government officials who want more power are not going to stop unless they get stopped.”

“All justice is inherently social. Can someone on a desert island be either just or unjust?”

“Cheap medical care is one of the most expensive things there is. So long as politicians can create the illusion of something for nothing, that gets them votes, which is what it is all about, as far as they are concerned.”

“One of the consequences of such notions as ‘entitlements’ is that people who have contributed nothing to society feel that society owes them something, apparently just for being nice enough to grace us with their presence.”

“Oliver Wendell Holmes said, "Think things, not words." In words, many see a need for "social justice" to override "the dictates of the market." In reality, what is called "the market" consists of human beings making their own choices at their own cost. What is called "social justice" is government imposition of the notions of third parties, who pay no price for being wrong.”

“In their zeal for particular kinds of decisions to be made, those with the vision of the anointed seldom consider the nature of the: process: by which decisions are made. Often what they propose amounts to third-party decision making by people who pay no cost for being wrong-surely one of the least promising ways of reaching decisions satisfactory to those who must live with the consequences.”

“Whenever someone refers to me as someone "who happens to be black," I wonder if they realize that both my parents are black. If I had turned out to be Scandinavian or Chinese, people would have wondered what was going on.”

“The government has brought on the housing problem, partly by these very low interest rates, which encouraged many people to go way out on a limb. They've brought it on by highly restrictive building policies, which have caused housing prices to skyrocket artificially. And they've brought it on by the Community Reinvestment Act, which presumes that politicians are better able to tell investors where to put their money than the investors themselves are. When you put all that together, you get something like what you have.”

“Has Obama ever grown even a potted plant, much less a business, a bank, a hospital or any of the numerous other institutions whose decisions he wants to control and override? But he can talk glibly about growing the economy. Arrogance is no substitute for experience. That is why the country is in the mess it is in now.”

“Out of every hundred new ideas ninety-nine or more will probably be inferior to the traditional responses which they propose to replace. No one man, however brilliant or well-informed, can come in one lifetime to such fullness of understanding as to safely judge and dismiss the customs or institutions of his society, for those are the wisdom of generations after centuries of experiment in the laboratory of history.”

“The murder of a dozen innocent people is unquestionably a human tragedy. But that is no excuse for reacting blindly by preventing hundreds of thousands of other people from defending themselves against meeting the same fate.”

“Too much of what is called 'education' is little more than an expensive isolation from reality.”

“Many people, including some conservatives, have been very impressed with how brainy the president and his advisers are. But that is not quite as reassuring as it might seem.”

“In short, killing the goose that lays the golden egg is a viable political strategy, so long as the goose does not die before the next election and no one traces the politicians’ fingerprints on the murder weapon.”

“One of the most important reasons for studying history is that virtually every stupid idea that is in vogue today has been tried before and proved disastrous before, time and again.”

“Most of the people in the upper income brackets are not rich and do not have wealth sheltered offshore. They are typically working people who have finally reached their peak earning years after many years of far more modest incomes-and now see much of what they have worked for siphoned off by politicians, to the accompaniment of lofty rhetoric.”

“The next time some academics tell you how important diversity is, ask how many Republicans there are in their sociology department.”

“The law of diminishing returns means that even the most beneficial prinicple will become harmful if carried far enough.”

“The way the [welfare] programs are organized, poor people are only paid to do things that are counter-productive - such as breaking up their families, such as not earning above a certain level of income.”

“I'm so old that I can remember when most of the people promoting race hate were white.”

“France has never gotten over the fact that it was once a great power and is now just a great nuisance.”

“Like so many before him who have ruined countries around the world, Obama has a greatly inflated idea of his own capabilities and the capabilities off what can be accomplished by rhetoric or even by political power.”

“Lunches don't get free just because you don't see the prices on the menu. And economists don't get popular by reminding people of that.”

“What the political left, even in democratic countries, share is the notion that knowledgeable and virtuous people like themselves have both a right and a duty to use the power of government to impose their superior knowledge and virtue on others.”