No subscription or hidden extras
Read through the most famous quotes by topic #economics
This points to a nagging and important question about free-market ideologues: Are they ‘true believers’, driven by ideology and faith that free markets will cure underdevelopment, as is often asserted, or do the ideas and theories frequently serve as an elaborate rationale to allow people to act on unfettered greed while still invoking an altruistic motive? ↗
#economics #free-market-ideology #milton-friedman #shock-doctrine #faith
Recent evidence confirms that retail prices of essential consumer goods in poor countries are not appreciably lower than in the United States or Western Europe. In fact, with deregulation and "free trade", the cost of living in many Third World cities is now higher than in the United States. My experience in Latin America and Haiti is that the prices of meat, fish and fresh vegetables are about the same as in the United States. Can you imagine eating on less than one dollar a day? ↗
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. ↗
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 ↗
Thirty years ago [written 2009], over-regulation, over-taxation, mis-regulation, statism, state corporatism, and economic folly, cosiness and regulatory capture, and a crescent ideological enemy without, who were assisted by enemies – both fifth columnists and useful fools – within, had led to a crisis of confidence in the West, and in all lands that – and amongst all peoples, particularly those who were oppressed in their own lands, who – loved and desired liberty. Of course, thirty years ago, Britain had Margaret Thatcher to turn to. ↗
