American Elephants


Words of Wisdom for Monday II by The Elephant's Child

“Countries that pursue economic freedom get prosperity as a bonus.”

Barry Asmus
Senior Economist NCPA

Fredrich Hayek, the Austrian-American economist and Nobel Laureate, devoted much of his brilliant career to describe how rationalism could never work. How can anything good happen, Hayek asked, if individuals cannot think and act for themselves? Rules preclude initiative. Regimentation precludes evolution, Letting accidents happen, mistakes be made, results in new ideas. Trial and error is the key to all progress. The Soviet system of rules and central planning is doomed to failure. Hayek stated fifty years ago, because it kills the human faculty that makes things work.

Philip Howard
The Death of Common Sense

Capital will go where it is wanted and stay where it is well treated. It will flee from manipulation or onerous regulation of its value or use and no government power can restrain it for long.

Walter Wriston
The Twilight of Sovereignty

The clear lesson of history is that individual liberty, the basic underpinning of American society, requires constant defense against the encroachment of the state.

Walter Wriston
Risk and Other Four Letter Words

 

What do the poor most need? They need to stop being poor. And how can that be done on a mass scale except by an economy that creates more wealth? Yet the political left has long had a remarkable lack of interest in how wealth is created. as far as they are concerned, wealth exists “somehow” and the only interesting question is how to re-distribute it.

Thomas Sowell
“The Real Revolutionaries,” 1/5/2000

ADDENDUM: Here’s why I post good quotations to remember like these: Here’s N.Y. City Mayor Bill de Blasio on “What We Need isĀ  a System of “Actual Redistribution of Wealth”

and here’s a post by David Solway: “How Professional Merit and Scientific Objectivity Became Casualties of Social Justice Insanity”




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