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Read through the most famous quotes by topic #economics
And one day we must ask the question, "Why are there forty million poor people in America?" And when you begin to ask that question, you are raising questions about the economic system, about a broader distribution of wealth. When you ask that question, you begin to question the capitalistic economy. ↗
It is true that the virtues which are less esteemed and practiced now--independence, self-reliance, and the willingness to bear risks, the readiness to back one's own conviction against a majority, and the willingness to voluntary cooperation with one's neighbors--are essentially those on which the of an individualist society rests. Collectivism has nothing to put in their place, and in so far as it already has destroyed then it has left a void filled by nothing but the demand for obedience and the compulsion of the individual to what is collectively decided to be good. ↗
What should have died along with communism is the belief that modern societies can be run on a single principle, whether that of planning under the general will or that of free-market allocations. ↗
...there were certain chapters when I stopped writing, saw the domestic situation I was in and thought, "I don't want to face this world, let's get back to the hellish one I'm imagining. ↗
Inevitably, people tell me that poor folks are lazy or unintelligent, that they are somehow deserving of their poverty. However, if you begin to look at the sociological literature on poverty, a more complex picture emerges. Poverty and unemployment are part and parcel of our economic order. Without them, capitalism would cease to function effectively, and in order to continue to function, the system itself must produce poverty and an army of underemployed or unemployed people. ↗
The use of market values and technology as a social barometer has devalued the worth of individuals, rendered irrelevant the quality of their lives, and stunted their creativity. ↗
If we all make systematic mistakes in our decisions, then why not develop new strategies, tools, and methods to help us make better decisions and improve our overall well-being? That's exactly the meaning of free lunches- the idea that there are tools, methods, and policies that can help all of us make better decisions and as a consequence achieve what we desire-pg. 241 ↗
Capitalism tries for a delicate balance: It attempts to work things out so that everyone gets just enough stuff to keep them from getting violent and trying to take other people’s stuff. ↗
