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Read through the most famous quotes by topic #ono
History, practical experience, common sense and economic theory all agree: economic competition is probably one of the greatest ideas humans ever came up with. When people compete to achieve the same goal, great things seem to happen that otherwise would not. Things get done faster, cheaper, and better; new methods for lifting a weight or quenching a thirst are invented; the average guy ends up with more of the stuff he likes at a lower price than before. That is why, in the end, socialism collapsed like a rotten wall: it did not allow its people to compete and, as a result, it not only made their economic life miserable, but strangled their hearts and souls. ↗
The experience of history should lead us to hope and strive to make the world better, not to despair and resign ourselves to fate. ↗
Praxeology is a theoretical and systematic, not a historical, science. Its scope is human action as such, irrespective of all environmental, accidental, and individual circumstances of the concrete acts. Its cognition is purely formal and general without reference to the material content and the particular features of the actual case. It aims at knowledge valid for all instances in which the conditions exactly correspond to those implied in its assumptions and inferences. Its statements and propositions are not derived from experience. They are, like those of logic and mathematics, a priori. They are not subject to verification or falsification on the ground of experience and facts. ↗
#empiricism #falsification #libertarianism #pseudoscience #reality
Today there is a deep longing in our culture to reconnect to this spiritual world, for we are not whole without it. But our longing cannot be satisfied by embracing religious belief alone, no matter how emotional the embrace, for our longing is at root a hunger and thirst for the experience of interior realities. If, however, we are to forge a new relationship to the invisible world of spirit based on experience, what will distinguish it from the past is the modern necessity that it be based on our own autonomy as free individuals, able to think, decide, and act for ourselves. ↗
The ideal-worker standard and norm of work devotion push mothers to the margins of economic life. And a society that marginalizes its mothers impoverishes its children. That is why the paradigmatic poor family in the United States is a single mother and her child. ↗
TELL me not, Sweet, I am unkind, That from the nunnery Of thy chaste breast and quiet mind To war and arms I fly. True, a new mistress now I chase, The first foe in the field; And with a stronger faith embrace A sword, a horse, a shield. Yet this inconstancy is such As thou too shalt adore; I could not love thee, Dear, so much, Loved I not Honour more. ↗
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
... toxic derivatives were underpinned by toxic economics, which, in turn, were no more than motivated delusions in search of theoretical justification; fundamentalist tracts that acknowledged facts only when they could be accommodated to the demands of the lucrative faith. Despite their highly impressive labels and technical appearance, economic models were merely mathematized versions of the touching superstition that markets know best, both at times of tranquility and in periods of tumult. ↗
