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“Real wealth, of course, consists in what is produced and consumed: the food we eat, the clothes we wear, the houses we live in.”
― Economics in One Lesson: The Shortest and Surest Way to Understand Basic Economics
― Economics in One Lesson: The Shortest and Surest Way to Understand Basic Economics
“The right to agree with others is not a problem in any society; it is the right to disagree that is crucial.”
― Capitalism: The Unknown Ideal
― Capitalism: The Unknown Ideal
“If the natural tendencies of mankind are so bad that it is not safe to permit people to be free, how is it that the tendencies of these organizers are always good? Do not the legislators and their appointed agents also belong to the human race? Or do they believe that they themselves are made of a finer clay than the rest of mankind? The organizers maintain that society, when left undirected, rushes headlong to its inevitable destruction because the instincts of the people are so perverse. The legislators claim to stop this suicidal course and to give it a saner direction. Apparently, then, the legislators and the organizers have received from Heaven an intelligence and virtue that place them beyond and above mankind; if so, let them show their titles to this superiority.”
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“The function of profits, finally, is to put constant and unremitting pressure on the head of every competitive business to introduce further economies and efficiencies, no matter to what stage these may already have been brought.”
― Economics in One Lesson: The Shortest and Surest Way to Understand Basic Economics
― Economics in One Lesson: The Shortest and Surest Way to Understand Basic Economics
“Even the richest person, provided the riches comes from mutually beneficial exchange, does not need to give anything "back" to the community, because this person took nothing out of the community. Indeed, the reverse is true: Enterprises give to the community. Their owners take huge risks, and front the money for investment, precisely with the goal of serving others. Their riches are signs that they have achieved their aims.”
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William’s 2025 Year in Books
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