Biographies

"Bastiat knew what most educated people never learn, that the source of all injustice in society stems from violations of freedom."

The unseen effect that is missing in his "Broken Window" analysis is the diversion of time and energy from a community-enhancing endeavor (the unseen) to one of restoration (the seen).

I think of Ayn’s happiness and expectation, I think of the pain and bitter disillusion that scarred the rest of her life — and something insi

It seems there is a terrible price to be paid for genius.

"Nagel thinks that people in society are morally bound to each other in ways that generate egalitarian obligations."

"Savings are an indispensable prerequisite for increases in productivity that involve lengthening the structure of production."

"Milton's argument that the people need free expression of thought rests not upon their inherent virtue, but upon the very fact that none of them are virtuous enough to properly decide the right books for all."

"Ludwig von Mises was, first and foremost, an economist and social scientist who built an entire intellectual system from a very simple principle: man acts."

When a merchant borrows 20,000 francs to purchase a house, it is not the 20,000 francs which he owes, but the house. Money only appears for the sake of facilitating the arrangements between the parties."

But ignorance cannot account for Keynes's claim that he was the first economist to try to explain unemployment or to transcend the assumption that money is a mere veil exerting no important influence on the business cycle or the economy.