Tag: Economy

1295: Ayn Rand – Businessmen vs. Bureaucrats

F1295: Ayn Rand – Businessmen vs. Bureaucrats
A businessman’s success depends on his intelligence, his knowledge, his productive ability, his economic judgment—and on the voluntary agreement of all those he deals with: his customers, his suppliers, his employees, his creditors or investors. A bureaucrat’s success depends on his political pull. A businessman cannot force you to buy his product; if he makes a mistake, he suffers the consequences; if he fails, he takes the loss. A bureaucrat forces you to obey his decisions, whether you agree with him or not—and the more advanced the stage of a country’s statism, the wider and more discretionary the powers wielded by a bureaucrat. If he makes a mistake, you suffer the consequences; if he fails, he passes the loss on to you, in the form of heavier taxes. —Ayn Rand
A businessman’s success depends on his intelligence, his knowledge, his productive ability, his economic judgment—and on the voluntary agreement of all those he deals with: his customers, his suppliers, his employees, his creditors or investors. A bureaucrat’s success depends on his political pull. A businessman cannot force you to buy his product; if he makes a mistake, he suffers the consequences; if he fails, he takes the loss. A bureaucrat forces you to obey his decisions, whether you agree with him or not—and the more advanced the stage of a country’s statism, the wider and more discretionary the powers wielded by a bureaucrat. If he makes a mistake, you suffer the consequences; if he fails, he passes the loss on to you, in the form of heavier taxes. —Ayn Rand
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A businessman’s success depends on his intelligence, his knowledge, his productive ability, his economic judgment—and on the voluntary agreement of all those he deals with: his customers, his suppliers, his employees, his creditors or investors. A bureaucrat’s success depends on his political pull. A businessman cannot force you to buy his product; if he makes a mistake, he suffers the consequences; if he fails, he takes the loss. A bureaucrat forces you to obey his decisions, whether you agree with him or not—and the more advanced the stage of a country’s statism, the wider and more discretionary the powers wielded by a bureaucrat. If he makes a mistake, you suffer the consequences; if he fails, he passes the loss on to you, in the form of heavier taxes. —Ayn Rand
Normal Quality (3072×3840 786 KB)

A businessman’s success depends on his intelligence, his knowledge, his productive ability, his economic judgment—and on the voluntary agreement of all those he deals with: his customers, his suppliers, his employees, his creditors or investors. A bureaucrat’s success depends on his political pull. A businessman cannot force you to buy his product; if he makes a mistake, he suffers the consequences; if he fails, he takes the loss. A bureaucrat forces you to obey his decisions, whether you agree with him or not—and the more advanced the stage of a country’s statism, the wider and more discretionary the powers wielded by a bureaucrat. If he makes a mistake, you suffer the consequences; if he fails, he passes the loss on to you, in the form of heavier taxes.

A businessman cannot force you to work for him or to accept the wages he offers; you are free to seek employment elsewhere and to accept a better offer, if you can find it. (Remember, in this context, that jobs do not exist “in nature,” that they do not grow on trees, that someone has to create the job you need, and that that someone, the businessman, will go out of business if he pays you more than the market permits him to pay you.) A bureaucrat can force you to work for him, when he achieves the totalitarian power he seeks; he can force you to accept any payment he offers—or none, as witness the forced labor camps in the countries of full statism.

The businessman’s tool is values; the bureaucrat’s tool is fear.

—Ayn Rand

1293: Ludwig von Mises – What Capitalism Gave the World

W1293: Ludwig von Mises - What Capitalism Gave the World
Capitalism gave the world what it needed, a higher standard of living for a steadily increasing number of people. —Ludwig von Mises
Capitalism gave the world what it needed, a higher standard of living for a steadily increasing number of people. —Ludwig von Mises
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Capitalism gave the world what it needed, a higher standard of living for a steadily increasing number of people. —Ludwig von Mises
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Capitalism gave the world what it needed, a higher standard of living for a steadily increasing number of people. —Ludwig von Mises
Capitalism gave the world what it needed, a higher standard of living for a steadily increasing number of people. —Ludwig von Mises

Capitalism gave the world what it needed, a higher standard
of living for a steadily increasing number of people. —Ludwig von Mises

1288: Henry Hazlitt – Maximize Production to Cure Poverty

W1288: Henry Hazlitt - Maximize Production to Cure Poverty
The only real cure for poverty is production. The way to maximize production is to maximize the incentives to production. —Henry Hazlitt
The only real cure for poverty is production. The way to maximize production is to maximize the incentives to production. —Henry Hazlitt
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The only real cure for poverty is production. The way to maximize production is to maximize the incentives to production. —Henry Hazlitt
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The only real cure for poverty is production. The way to maximize production is to maximize the incentives to production. —Henry Hazlitt
The only real cure for poverty is production. The way to maximize production is to maximize the incentives to production. —Henry Hazlitt

The only real cure for poverty is production. The way to maximize production is to maximize the incentives to production. —Henry Hazlitt

1284: Henry George – What Protectionism Teaches Us

W1284: Henry George - What Protectionism Teaches Us
What protectionism teaches us is to do to ourselves in times of peace what enemies seek to do to us in time of war. —Henry George
What protectionism teaches us is to do to ourselves in times of peace what enemies seek to do to us in time of war. —Henry George
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What protectionism teaches us is to do to ourselves in times of peace what enemies seek to do to us in time of war. —Henry George
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What protectionism teaches us is to do to ourselves in times of peace what enemies seek to do to us in time of war. —Henry George
What protectionism teaches us is to do to ourselves in times of peace what enemies seek to do to us in time of war. —Henry George

What protectionism teaches us is to do to ourselves in times of peace what enemies seek to do to us in time of war. —Henry George

1278: Murray Rothbard – The Power to Counterfeit Money

W1278: Murray Rothbard - The Power to Counterfeit Money
The government is the only institution in society with the power to counterfeit—to create new money. So long as it continues to use that power, we will continue to suffer from inflation. —Murray Rothbard
The government is the only institution in society with the power to counterfeit—to create new money. So long as it continues to use that power, we will continue to suffer from inflation. —Murray Rothbard
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The government is the only institution in society with the power to counterfeit—to create new money. So long as it continues to use that power, we will continue to suffer from inflation. —Murray Rothbard
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The government is the only institution in society with the power to counterfeit—to create new money. So long as it continues to use that power, we will continue to suffer from inflation. —Murray Rothbard
The government is the only institution in society with the power to counterfeit—to create new money. So long as it continues to use that power, we will continue to suffer from inflation. —Murray Rothbard

The government is the only institution in society with the power to counterfeit—to create new money. So long as it continues to use that power, we will continue to suffer from inflation. —Murray Rothbard

1271: John Adams – Ignorance of the Nature of Coin and Credit

W1271: John Adams - Ignorance of the Nature of Coin and Credit
All the perplexities, confusions, and distress in America arise, not from defects in their Constitution or Confederation, not from a want of honor or virtue, so much as from downright ignorance of the nature of coin, credit, and circulation. —John Adams
All the perplexities, confusions, and distress in America arise, not from defects in their Constitution or Confederation, not from a want of honor or virtue, so much as from downright ignorance of the nature of coin, credit, and circulation. —John Adams
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All the perplexities, confusions, and distress in America arise, not from defects in their Constitution or Confederation, not from a want of honor or virtue, so much as from downright ignorance of the nature of coin, credit, and circulation. —John Adams
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All the perplexities, confusions, and distress in America arise, not from defects in their Constitution or Confederation, not from a want of honor or virtue, so much as from downright ignorance of the nature of coin, credit, and circulation. —John Adams
All the perplexities, confusions, and distress in America arise, not from defects in their Constitution or Confederation, not from a want of honor or virtue, so much as from downright ignorance of the nature of coin, credit, and circulation. —John Adams

All the perplexities, confusions, and distress in America arise, not from defects in their Constitution or Confederation, not from a want of honor or virtue, so much as from downright ignorance of the nature of coin, credit, and circulation. —John Adams

1267: Walter Williams – The Poor are Getting Richer

W1267: Walter Williams – The Poor are Getting Richer
As early as 2010, 43% of all poor households owned their own homes. The average home owned by persons classified as poor by the Census Bureau is a three-bedroom house with one-and-a-half baths, a garage and a porch or patio. Eighty percent of poor households have air conditioning. The typical poor American has more living space than the average non-poor individual living in Paris, London, Vienna, Athens and other cities throughout Europe. Ninety-seven percent of poor households have one or more color televisions — half of which are connected to cable, satellite or a streaming service. Some 82% of poor families have one or more smartphones. Eighty-nine percent own microwave ovens and more than a third have an automatic dishwasher. Most poor families have a car or truck and 43% own two or more vehicles. —Walter Williams
As early as 2010, 43% of all poor households owned their own homes. The average home owned by persons classified as poor by the Census Bureau is a three-bedroom house with one-and-a-half baths, a garage and a porch or patio. Eighty percent of poor households have air conditioning. The typical poor American has more living space than the average non-poor individual living in Paris, London, Vienna, Athens and other cities throughout Europe. Ninety-seven percent of poor households have one or more color televisions — half of which are connected to cable, satellite or a streaming service. Some 82% of poor families have one or more smartphones. Eighty-nine percent own microwave ovens and more than a third have an automatic dishwasher. Most poor families have a car or truck and 43% own two or more vehicles. —Walter Williams
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As early as 2010, 43% of all poor households owned their own homes. The average home owned by persons classified as poor by the Census Bureau is a three-bedroom house with one-and-a-half baths, a garage and a porch or patio. Eighty percent of poor households have air conditioning. The typical poor American has more living space than the average non-poor individual living in Paris, London, Vienna, Athens and other cities throughout Europe. Ninety-seven percent of poor households have one or more color televisions — half of which are connected to cable, satellite or a streaming service. Some 82% of poor families have one or more smartphones. Eighty-nine percent own microwave ovens and more than a third have an automatic dishwasher. Most poor families have a car or truck and 43% own two or more vehicles. —Walter Williams
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As early as 2010, 43% of all poor households owned their own homes. The average home owned by persons classified as poor by the Census Bureau is a three-bedroom house with one-and-a-half baths, a garage and a porch or patio. Eighty percent of poor households have air conditioning. The typical poor American has more living space than the average non-poor individual living in Paris, London, Vienna, Athens and other cities throughout Europe. Ninety-seven percent of poor households have one or more color televisions — half of which are connected to cable, satellite or a streaming service. Some 82% of poor families have one or more smartphones. Eighty-nine percent own microwave ovens and more than a third have an automatic dishwasher. Most poor families have a car or truck and 43% own two or more vehicles. —Walter Williams
As early as 2010, 43% of all poor households owned their own homes. The average home owned by persons classified as poor by the Census Bureau is a three-bedroom house with one-and-a-half baths, a garage and a porch or patio. Eighty percent of poor households have air conditioning. The typical poor American has more living space than the average non-poor individual living in Paris, London, Vienna, Athens and other cities throughout Europe. Ninety-seven percent of poor households have one or more color televisions — half of which are connected to cable, satellite or a streaming service. Some 82% of poor families have one or more smartphones. Eighty-nine percent own microwave ovens and more than a third have an automatic dishwasher. Most poor families have a car or truck and 43% own two or more vehicles. —Walter Williams

As early as 2010, 43% of all poor households owned their own homes. The average home owned by persons classified as poor by the Census Bureau is a three-bedroom house with one-and-a-half baths, a garage and a porch or patio. Eighty percent of poor households have air conditioning. The typical poor American has more living space than the average non-poor individual living in Paris, London, Vienna, Athens and other cities throughout Europe. Ninety-seven percent of poor households have one or more color televisions — half of which are connected to cable, satellite or a streaming service. Some 82% of poor families have one or more smartphones. Eighty-nine percent own microwave ovens and more than a third have an automatic dishwasher. Most poor families have a car or truck and 43% own two or more vehicles. —Walter Williams

1253: Murray Rothbard – Government Intervention Brings Depression

W1253: Murray Rothbard - Government Intervention Brings Depression
The business cycle is brought about, not by any mysterious failings of the free market economy, but quite the opposite: By systematic intervention by government in the market process. Government intervention brings about bank expansion and inflation, and, when the inflation comes to an end, the subsequent depression-adjustment comes into play. —Murray Rothbard
The business cycle is brought about, not by any mysterious failings of the free market economy, but quite the opposite: By systematic intervention by government in the market process. Government intervention brings about bank expansion and inflation, and, when the inflation comes to an end, the subsequent depression-adjustment comes into play. —Murray Rothbard
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The business cycle is brought about, not by any mysterious failings of the free market economy, but quite the opposite: By systematic intervention by government in the market process. Government intervention brings about bank expansion and inflation, and, when the inflation comes to an end, the subsequent depression-adjustment comes into play. —Murray Rothbard
Normal Quality (1280×1920 276 KB)

The business cycle is brought about, not by any mysterious failings of the free market economy, but quite the opposite: By systematic intervention by government in the market process. Government intervention brings about bank expansion and inflation, and, when the inflation comes to an end, the subsequent depression-adjustment comes into play. —Murray Rothbard

1250: Murray Rothbard – War Increases State Power

W1250: Murray Rothbard - War Increases State Power
It is in war that the State really comes into its own: swelling in power, in number, in pride, in absolute dominion over the economy and the society. —Murray Rothbard
It is in war that the State really comes into its own: swelling in power, in number, in pride, in absolute dominion over the economy and the society. —Murray Rothbard
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It is in war that the State really comes into its own: swelling in power, in number, in pride, in absolute dominion over the economy and the society. —Murray Rothbard
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It is in war that the State really comes into its own: swelling in power, in number, in pride, in absolute dominion over the economy and the society. —Murray Rothbard
It is in war that the State really comes into its own: swelling in power, in number, in pride, in absolute dominion over the economy and the society. —Murray Rothbard

It is in war that the State really comes into its own: swelling in power, in number, in pride, in absolute dominion over the economy and the society. —Murray Rothbard

1248: Murray Rothbard – Statists are Really Opposed to Charity

W1248: Murray Rothbard - Statists are Really Opposed to Charity
Statists, in fact, are really opposed to charity. They often argue that charity is demeaning and degrading to the recipient, and that he should therefore be taught that the money is rightly his, to be given to him by the government as his due. An act of charity, when given voluntarily, is generally considered temporary and offered with the object of helping a man to help himself. But when the dole is ladled out by the State, it becomes permanent and perpetually degrading, keeping the recipients in a state of subservience. Anyone who considers private charity degrading must logically conclude that State charity is far more so. —Murray Rothbard
Statists, in fact, are really opposed to charity. They often argue that charity is demeaning and degrading to the recipient, and that he should therefore be taught that the money is rightly his, to be given to him by the government as his due. An act of charity, when given voluntarily, is generally considered temporary and offered with the object of helping a man to help himself. But when the dole is ladled out by the State, it becomes permanent and perpetually degrading, keeping the recipients in a state of subservience. Anyone who considers private charity degrading must logically conclude that State charity is far more so. —Murray Rothbard
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Statists, in fact, are really opposed to charity. They often argue that charity is demeaning and degrading to the recipient, and that he should therefore be taught that the money is rightly his, to be given to him by the government as his due. An act of charity, when given voluntarily, is generally considered temporary and offered with the object of helping a man to help himself. But when the dole is ladled out by the State, it becomes permanent and perpetually degrading, keeping the recipients in a state of subservience. Anyone who considers private charity degrading must logically conclude that State charity is far more so. —Murray Rothbard
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Statists, in fact, are really opposed to charity. They often argue that charity is demeaning and degrading to the recipient, and that he should therefore be taught that the money is rightly his, to be given to him by the government as his due. An act of charity, when given voluntarily, is generally considered temporary and offered with the object of helping a man to help himself. But when the dole is ladled out by the State, it becomes permanent and perpetually degrading, keeping the recipients in a state of subservience. Anyone who considers private charity degrading must logically conclude that State charity is far more so. —Murray Rothbard