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The art of economics consists in looking not merely at the immediate hut at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups—Henry Hazlitt

Showing posts with label Deirdre McCloskey. Show all posts

Tuesday, June 26, 2012

Quote of the Day: The Spurious Idea of Measuring Value

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The basis of modern economics is the cognition that it is precisely the disparity in the value attached to the objects exchanged that res...

Monday, June 25, 2012

Quote of the Day: The Folly of Measuring Happiness

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What the economists could measure pretty easily, though, was the money you have for buying sandwiches or paying the rent. Income is not y...

Tuesday, June 19, 2012

Quote of the Day: Factual Free Market Fairness

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The free market is an ethical system better than all the rest Professor Deirdre McCloskey makes a compellingly superb argument at the Blee...

Sunday, April 29, 2012

Quote of the Day: Bourgeois Virtues

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Give a woman some rice, and you save her for a day. That’s the simplest form of what Christians flatter themselves by calling “Christian...

Saturday, January 28, 2012

Quote of the Day: In Liberty, Institutions Matter

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However that may be, the main point about which there can be little doubt is that Smith's chief concern was not so much with what man...

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