var quotes=new Array()

//change the quotes if desired. Add/ delete additional quotes as desired.

quotes[0]='Hell hath no fury like a bureaucrat scorned. <i>-Milton Friedman</i>'

quotes[1]='New mathematical theories may be deeper, simpler and more general than their predecessors, but say nothing about the world. <i>-Juergen Backhouse</i>'

quotes[2]='Constrained-maximization problems are mothers milk to the well-trained economist. <i>-Richard Caves</i>'

quotes[3]='As the work progresses the careful reader will insert mental interrogation points here and there. He will find that his interest increases as the interrogation points become more frequent, and that it culminates where they are changed to marks of positive dissent. I venture to record the opinion that the value of the work reaches a maximum in a passage that is demonstrably incorrect. <i>-John Bates Clark</i>'

quotes[4]='If we knew what it was we were doing, it would not be called research, would it?. <i>-Albert Einstein</i>'

quotes[5]='Economics is a subject that does not greatly respect anyones wishes. <i>-Nikita Khrushchev</i>'

quotes[6]='Those who attempt to make forecasts of steel consumption and production are inevitably exposed to two criticisms in a sense contradictory. On the one hand it is argued that they have been prisoners of their mathematics. But without mathematics objective and scientific estimates are impossible. On the other, it is suggested that the forecasters have built up an elaborate superstructure designed to prove conclusions established in advance. The reader must judge for himself whether a proper course has been steered between the Scylla of undue reliance on the iron logic of mathematics and the Charybdis of preconceived views. <i>-Economic Commission for Europe</i>'

quotes[7]='No man but a blockhead ever wrote, except for money. <i>-James Boswell</i>'

quotes[8]='Price caps do nothing to reduce demand, and they do nothing to increase supply. <i>-George W. Bush</i>'

quotes[9]='As I grow older, I pay less attention to what men say. I just watch what they do. <i>-Andrew Carnegie</i>'

quotes[10]='Everyone for himself, cried the elephant, as he danced among the chickens. <i>-Robert H. Bork</i>'

quotes[11]='Results? Why, man, I have gotten a lot of results. I know several thousand things that will not work. <i>-Thomas Alva Edison</i>'

quotes[12]='Improving education is political Newspeak for producing more expensive incompetence. <i>-Thomas Sowell</i>'

quotes[13]='The program of [classical] liberalism condensed into a single word, would have to read: property. <i>-Ludwig von Mises</i>'

quotes[14]='The world has the habit of making room for the man whose actions show that he knows where he is going. <i>-Napoleon Hill</i>'

quotes[15]='Nothing is so permanent as a temporary government program. <i>-Milton Friedman</i>'

quotes[16]='Herbert Hoover, it has been said, called in the best economists in the country and took the advice of none of them; Franklin Roosevelt called in the worst economists and took the advice of all of them. <i>-William Harlan Hale</i>'

quotes[17]='I have never heard anything about the resolutions of the apostles, but a good deal about their acts. <i>-Horace Mann</i>'

quotes[18]='Everything is on such a clear financial basis in France. It is the simplest country to live in. No one makes things complicated by becoming your friend for any obscure reason. If you want people to like you you have only to spend a little money. I spent a little money and the waiter liked me. He appreciated my valuable qualities. He would be glad to see me, and would want me at his table. It would be a sincere liking because it would have a sound basis. I was back in France. <i>-Ernest Hemingway</i>'

quotes[19]='Governments never learn. Only people learn. <i>-Milton Friedman</i>'

quotes[20]='One may walk over the highest mountain one step at a time. <i>-John Wanamaker, Philadelphia Retailer</i>'

quotes[21]='Remember...a developer is someone who wants to build a house in the woods. An environmentalist is someone who already owns a house in the woods. <i>-Dennis Miller</i>'

quotes[22]='The basic facts are straightforward, but interpretations vary. <i>-Thomas Hazlett</i>'

quotes[23]='In economics, as in physics, changes are generally continuous. <i>-Alfred Marhall</i>'

quotes[24]='I admit that these terms [final utility, marginal production, etc.] and the diagrams connected with them repel some readers, and fill others with the vain imagination that they have mastered difficult economics problems, when really they have done little more than learn the language in which parts of those problems can be expressed, and the machinery by which they can be handled. When the actual conditions of particular problems have not been studied, such knowledge is little better than a derrick for sinking oil-wells erected where there are no oil-bearing strata. <i>-Alfred Marshall</i>'

quotes[25]='Page after page of professional economic journals are filled with mathematical formulas leading the reader from sets of more or less plausible but entirely arbitrary assumptions to precisely stated but irrelevant theoretical conclusions. <i>-Wassily Leontief</i>'

quotes[26]='History suggests that capitalism is a necessary condition for political freedom. <i>-Milton Friedman</i>'

quotes[27]='It is not the situation ... It is your reaction to the situation <i>-Robert Conklin</i>'

quotes[28]='...even professors of economics, to say nothing of the public, do not generally have scientific minds. <i>-Frank H. Knight</i>'

quotes[29]='...since it is known that we generally work with false models and since the power of statistical tests increases with sample size, a statistical test can be relied on in virtually every application to reject the restricted model (hypothesis) for a large enough sample.(emphasis in original). <i>-Judge, Griffiths, Hill, and Lee</i>'

quotes[30]='To hell with circumstances; I create opportunities. <i>-Bruce Lee</i>'

quotes[31]='As many as 25 percent of the guests at a university dinner party can come from the economics department without spoiling the conversation. <i>-M.F. Riche</i>'

quotes[32]='...course titles and even course descriptions often fail to reveal what is actually taught (much less learned). <i>-F.M. Scherer</i>'

quotes[33]='The discipline of colleges and universities is in general contrived, not for the benefit of the students, but for the interest, or more properly speaking, for the ease of the masters. Its object is, in all cases, to maintain the authority of the master, and whether he neglects or performs his duty, to oblige the students in all cases to behave toward him as if he performed it with the greatest diligence and ability. <i>-Adam Smith</i>'

quotes[34]='But part of the job of economics is weeding out errors. That is much harder than making them, but also more fun. <i>-Robert M. Solow</i>'

quotes[35]='The study of economic theory is not defensible on aesthetic grounds.  It hardly rivals in elegance the mathematics or physics our sophomores learn. The theory is studied only as an aid in solving real problems, and it is good only in the measure that it performs this function. <i>-George Stigler</i>'

quotes[36]='Here P represents Hermann Paasche, who, like Laspeyres, was not the first to propose the index named after him. If we should ever encounter a case where a theory is named for the correct man, it will be noted. <i>-George Stigler</i>'

quotes[37]='Our subject offers peculiar opportunities for training people to think, and to think with care and consistency. <i>-F.W. Taussig</i>'

quotes[38]='It is however always important to remember that the ability to see things in their correct perspective may be, and often is, divorced from the ability to reason correctly and vice versa. That is why a man may be a very good theorist and yet talk absolute nonsense. <i>-Joseph A. Schumpeter</i>'

quotes[39]='It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard for their own interest. <i>-Adam Smith</i>'

quotes[40]='Why does a public discussion of economic policy so often show the abysmal ignorance of the participants?. <i>-Robert M. Solow</i>'

quotes[41]='Lack of money is the root of of all evil. <i>-George Bernard Shaw</i>'

quotes[42]='Money is a machine for doing quickly and commodiously what would be done, though less quickly and commodiously, without it. <i>-John Stuart Mill</i>'

quotes[43]='The best way to ruin a country is to debauch its currency. <i>-Vladimir Lenin</i>'

quotes[44]='Everything is worth what its purchaser will pay for it. <i>-Syrus (1st Century B.C.)</i>'

quotes[45]='Free trade, one of the greatest blessings which a government can confer on a people, is in almost every country unpopular. <i>-Lord Thomas Macauley</i>'

quotes[46]='No nation was ever ruined by trade. <i>-Benjamin Franklin</i>'

quotes[47]='Protectionism is the institutionalization of economic failure. <i>-Edward Heath</i>'

quotes[48]='Next to bombing, rent control is the most effective technique so far known for destroying cities. <i>-Assar Lindbeck</i>'

quotes[49]='People in the same trade seldom meet together, even for merriment and diversion, but the conversation ends in some contrivance to raise prices. <i>-Adam Smith</i>'

quotes[50]='In the long run we are all dead. <i>-John Maynard Keynes</i>'

quotes[51]='What can be added to the happiness of a man who is in health, out of debt, and has a clear conscience?. <i>-Adam Smith</i>'

quotes[52]='The real price of everything, what everything really costs to the man who wants to acquire it, is the toil and trouble of acquiring it. <i>-Adam Smith</i>'

quotes[53]='The Great Depression, like most other periods of severe unemployment, was produced by government mismanagement rather than by any inherent instability of the private economy. <i>-Milton Friedman</i>'

quotes[54]='Inflation is taxation without legislation. <i>-Milton Friedman</i>'

quotes[55]='Most economic fallacies derive ... from the tendency to assume that there is a fixed pie, that one party can gain only at the expense of another. <i>-Milton and Rose Friedman</i>'

quotes[56]='Inflation is taxation without legislation. <i>-Milton Friedman</i>'

quotes[57]='A successful economy depends on the proliferation of the rich, on creating a large class of risk-taking men who are willing to shun the easy channels of a comfortable life in order to create new enterprise, win huge profits, and invest them again. <i>-George Gilder</i>'

quotes[58]='Conservatives have an affection for the proliferating variety and mystery of human existence, as opposed to the narrowing uniformity, egalitarianism, and utilitarian aims of most radical systems. <i>-Russell Kirk</i>'

quotes[59]='Competition is a by-product of productive work, not its goal. A creative man is motivated by the desire to achieve, not by the desire to beat others. <i>-Ayn Rand</i>'

quotes[60]='If you ask me to name the proudest distinction of Americans, I would choose --  because it contains all the others -- the fact that they were the people who created the phrase -to make money.- No other language or nation had ever used these words before; men had always thought of wealth as a static quantity -- to be seized, begged, inherited, shared, looted, or obtained as a favor. Americans were the first to understand that wealth has to be created. <i>-Ayn Rand</i>'

quotes[61]='The theory is that election to Congress is tantamount to being dispatched to Washington on a looting raid for the enrichment of your state or district, and no other ethic need inhibit the feeding frenzy. <i>-George Will</i>'

quotes[62]='The government view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidise it. <i>-Ronald Reagan</i>'

quotes[63]='The state is the great fictitious entity by which everyone seeks to live at the expense of everyone else. <i>-Frederic Bastiat</i>'

quotes[64]='As every individual, therefore, endeavours as much as he can both to employ his capital in the support of domestic industry, and so to direct that industry that its produce may be of the greatest value... He generally, indeed, neither intends to promote the public interest, nor knows how much he is promoting it...  he intends only his own gain, and he is in this, as in many other cases, led by an invisible hand to promote an end which was no part of his intention. <i>-Adam Smith</i>'

quotes[65]='If an exchange between two parties is voluntary, it will not take place unless both believe they will benefit from it. Most economic fallacies derive from the neglect of this simple insight, from the tendency to assume that there is a fixed pie, that one party can gain only at the expense of another. <i>-Milton Friedman</i>'

quotes[66]='The art of economics consists in looking not merely at the immediate but 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. <i>-Henry Hazlitt</i>'

quotes[67]='Economics is not about things and tangible material objects; it is about men, their meanings and actions. <i>-Ludwig von Mises</i>'

quotes[68]='Economic history is a long record of government policies that failed because they were designed with a bold disregard for the laws of economics. <i>-Ludwig von Mises</i>'

quotes[69]='It is impossible to understand the history of economic thought if one does not pay attention to the fact that economics as such is a challenge to the conceit of those in power. <i>-Ludwig von Mises</i>'

quotes[70]='Every individual intends only his own gain, and he is in this, as in many other cases, led by an invisible hand to promote an end which was no part of his original intention. By pursuing his own interest he frequently promotes that of society more effectively than when he really intends to promote it. <i>-Adam Smith</i>'

quotes[71]='You cannot help the poor by destroying the rich. You cannot lift the wage earner by pulling down the wage payer. <i>-Abraham Lincoln</i>'

quotes[72]='A government with the policy to rob Peter to pay Paul can be assured of the support of Paul. <i>-George Bernard Shaw</i>'

quotes[73]='Free trade consists simply in letting people buy and sell as they want to buy and sell. Protective tariffs are as much applications of force as are blockading squadrons, and their objective is the same to prevent trade. The difference between the two is that blockading squadrons are a means whereby nations seek to prevent their enemies from trading; protective tariffs are a means whereby nations attempt to prevent their own people from trading. <i>-Henry George</i>'

quotes[74]='The evidence is overwhelmingly persuasive that the massive increase in world competition, a consequence of broadening trade flows, has fostered markedly higher standards of living for almost all countries who have participated... <i>-Alan Greenspan</i>'

quotes[75]='The system of private property is the most important guaranty of freedom, not only for those who own property, but scarcely less for those who do not. <i>-Fredrich von Hayek</i>'

quotes[76]='Monopolists, by keeping the market constantly understocked, by never fully supplying the effectual demand, sell their commodities much above the natural price, and raise their emoluments, whether they consist of wages or profit, greatly above their natural rate. <i>-Adam Smith</i>'

quotes[77]='It [economics] is a method rather than a doctrine, an apparatus of the mind, a technique of thinking which helps its possessor to draw correct conclusions. <i>-John Maynard Keynes</i>'

quotes[78]='We might as well reasonably dispute whether it is the upper or under blade of a pair of scissors that cuts a piece of paper, as whether value is governed by [demand] or [supply]. <i>-Alfred Marshall</i>'

quotes[79]='From the standpoint of society as a whole, the cost of anything is the value that it has in alternative uses. <i>-Thomas Sowell</i>'

quotes[80]='The fundamental impulse that sets the capitalist engine in motion comes from the new consumer goods, the new methods of production or transportation, and new markets, and the new forms of industrial organization that capitalist enterprise creates. <i>-Joseph A. Schumpeter</i>'

quotes[81]='Capitalism and Communism stand at opposite poles. Their essential difference is this: The communist seeing the rich man and his fine home, says: -- No man should have so much. -- The capitalist, seeing the same thing says: -- All men should have as much. <i>-Phelps Adams</i>'

quotes[82]='The inherent vice of capitalism is the unequal sharing of blessings; the inherent vice of socialism is the equal sharing of miseries. <i>-Winston Churchill</i>'

quotes[83]='The attractiveness of financing spending by debt issue to the elected politicians should be obvious. Borrowing allows spending to be made that will yield immediate political payoffs without the incurring of any immediate political cost. <i>-James Buchanan</i>'

quotes[84]='If the profit rectangle is the income transfer that a successful monopolist can extort from his customers, surely we should expect potential monopolists, with so large a prize dangling before them, to invest large resources in the activity of monopolizing. <i>-Gordon Tullock</i>'

quotes[85]='The Tullock rectangle may have to be added to the Harberger triangle when calculating the potential loss of welfare associated with monopoly. I use the word may advisedly since the discussion so far ... does not establish that rent-seeking for monopoly necessarily dissipates the transfer. <i>-Gordon Tullock</i>'

quotes[86]='It is not because one man keeps a coach while his neighbour walks a-foot that the one is rich and the other poor, but because the one is rich he keeps a coach, and because the other is poor he walks a-foot. <i>-Adam Smith - Theory of Moral Sentiments</i>'

quotes[87]='There is no art which one government sooner learns of another, than that of draining money from the pockets of the people. <i>-Adam Smith - Wealth of Nations</i>'

quotes[88]='What institution of government could lend so much to promise the happiness of mankind as the general prevalence of wisdom and virtue? All government is but an imperfect remedy for the deficiency of these.. <i>-AdamSmith - Theory of Moral Sentiments</i>'

quotes[89]='Every tax is to the person who pays it a badge, not of slavery, but of liberty. It denotes that he is subject to government, indeed, but that, as he has some property, he cannot himself be the property of a master. <i>-Adam Smith -Wealth of Nations</i>'

quotes[90]='High taxes, sometimes by diminishing consumption of the taxed commodities, and sometimes by encouraging smuggling, frequently afford a smaller revenue to government than what might be drawn from more moderate taxes. <i>-Adam Smith -Wealth of Nations</i>'

quotes[91]='The single advantage which the monopoly procures to a single order of men is in many different ways hurtful to the general interests of the country. <i>-Adam Smith -Wealth of Nations</i>'

quotes[92]='In general, if any branch of trade, or any division of labour, be advantageous to the public, the freer and the more general the competition, it will always be the more so. <i>-Adam Smith -Wealth of Nations</i>'

quotes[93]='When profit diminishes, merchants are very apt to complain that trade decays, though the diminution of profit is the natural effect of its prosperity, or of a greater stock being employed in it than before. <i>-Adam Smith -Wealth of Nations</i>'



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