Democracy and markets are both fundamental building blocks for a decent society. But they clash at a fundamental level. We need to balance them.
The Obama administration's agenda of maximizing dependency involves political favoritism cloaked in the raiment of "economic planning" and "social justice" that somehow produce results superior to what markets produce when freedom allows merit to manifest itself, and incompetence to fail. The administration's central activity – the political allocation of wealth and opportunity – is not merely susceptible to corruption, it is corruption.”George Will
The enemy aggressor is always pursuing a course of larceny, murder, rapine and barbarism. We are always moving forward with high mission, a destiny imposed by the Deity to regenerate our victims while incidentally capturing their markets, to civilise savage and senile and paranoid peoples while blundering accidentally into their oil wells.
The works of art, by being publicly exhibited and offered for sale, are becoming articles of trade, following as such the unreasoning laws of markets and fashion; and public and even private patronage is swayed by their tyrannical influence.prince consort albert
Either you believe in markets, or you believe in government.lawrence kudlow
Let the rabbit of free enterprise out of its velveteen bag and too many people would have to be fired, too much idiocy exposed to the light of judgment or ridicule, too much vanity sacrificed to the fires of efficiency. Such a catastrophe obviously would threaten the American way of life, to say nothing of the belief in free markets.lewis h. lapham
The premise of neo-conservatives is that markets left to their own devices will produce the best possible result, and that political interference is not required. This defies the human reality that people are not commodities, and simply refuse to behave as if they were.bob rae
In order to save the forty million inhabitants of the United Kingdom from a bloody civil war, our colonial statesmen must acquire new lands for settling the surplus population of this country, to provide new markets... The Empire, as I have always said, is a bread and butter question.cecil rhodes
It is much easier to organize control over one industry serving many markets than over one market served by the products of several industries.joan robinson
The transnational corporations and the money markets have declared the era of human-designed regulations over. Now the market must reign. Because few people in the business community are paid to think about phrases such as "Western civilization," they don't seem to realize that they are proposing the arbitrary denial of 2,500 years of human experience.john ralston saul
The situation in a number of countries reminds one that it's still a risky world out there in the emerging markets.lawrence summers
The proverbial wisdom of the populace in the streets, on the roads, and in the markets, instructs the ear of him who studies man more fully than a thousand rules ostentatiously arranged.
Everyone goes to the 'Grands-Boulevards' (in Paris, ed.) and let himself loose… …Do not picture these in costume, they are not for the most part… …perhaps a clown with a big nose, or two girls with bare necks and short skirts… …the parade of the queens of the halls (markets) is also one of the events… …Some are pretty but look awkward in their silk dresses and crowns, particularly as the broad sun displays their defects – perhaps a neck too thin or a painted face which shows ghastley white in the sunlight.Edward Hopper
I disagree with the followers of Marx and those of Adam Smith: the reason free markets work is because they allow people to be lucky, thanks to aggressive trial and error, not by giving rewards or "incentives" for skill.nassim nicholas taleb
Bearing in mind that “the market” is not an invention of capitalism but that it has existed for thousands of years in many different societies, social justice logically requires that the profits resulting from the operation of markets and infrastructures created by society be equitably shared within societies and in a larger context within the human family.alfred de zayas
Perfect competition must hold in product and factor markets, and also (and importantly) in capital markets. The assumption has two essential features: economic agents must be price takers; and they must have equal power.
So far as school education is concerned, many of the assumptions necessary for market efficiency fail, the main problems being imperfect information, imperfect capital markets, and external effects.
Even in financial markets, the concept of market efficiency does not hold.
Why should self-interested companies be permitted to shift the balance of fundamental liberties, risking free expression, free markets, scientific progress, consumer rights, societal stability, and the end of physical and informational want? Because somebody might be able to steal a song? That seems a rather flimsy excuse.
Bearing in mind that “the market” is not an invention of capitalism but that it has existed for thousands of years in many different societies, social justice logically requires that the profits resulting from the operation of markets and infrastructures created by society be equitably shared within societies and in a larger context within the human family.
The state of an economy is the resultant of real flows and money flows. The financial institutions operating through capital and money markets is institutional infrastructure. It lubricates the wheel of the economic system
The Federal Reserve Banks, while not part of the government, are the central banking sytem for the Nation.… Holdings of Federal debt by the Federal Reserve Banks do not have the same impact on private credit markets as other debt held by the public. Their holdings of Federal debt arise from their role as the country's central bank.
Linear Programming is a generalization of Linear Algebra. It is capable of handling a variety of problems, ranging from ?nding schedules for airlines or movies in a theater to distributing oil from re?neries to markets. The reason for this great versatility is the ease at which constraints can be incorporated into the model.
According to the academic world view that markets are efficient, only the revelation of a dramatic piece of information can cause a crash, yet in reality even the most thorough post-mortem analyses are typically inconclusive as to what this piece of information might have been.
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