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""In crowds the foolish, ignorant and envious persons are freed from the sense of their insignificance and powerlessness, and are possessed instead by the notion of brutal and temporary but immense strength."" — Aug 16, 2017 03:56AM
""In crowds the foolish, ignorant and envious persons are freed from the sense of their insignificance and powerlessness, and are possessed instead by the notion of brutal and temporary but immense strength."" — Aug 16, 2017 03:56AM
“There is surely nothing quite so useless as doing with great efficiency what should not be done at all.”
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“The mathematical economists have commonly been mathematicians first and economists afterward, disposed to oversimplify the data and underestimate the divergence between their premises and facts of life.”
― Ethics of Competition and Other Essays
― Ethics of Competition and Other Essays
“[The]...feeling for what one should want, in contrast with actual desire, is stronger in the unthinking than in those sophisticated by education. It is the later who argues into the ‘tolerant’ (economic) attitude of de gustibus non est disputandum [in matters of taste, there can be no disputes]; the man in the street is more likely to view the individual whose tastes are ‘wrong’ as a scurvy fellow who ought to be despised if not beaten up or shot.”
― Ethics of Competition and Other Essays
― Ethics of Competition and Other Essays
“Formalism, in opting for the functional mode making possible precise quantitative determinations within a closed system of variables, forgoes the possibility of making meaningful statements about human action.”
― Capital, Expectations, and the Market Process: Essays on the Theory of the Market Econony
― Capital, Expectations, and the Market Process: Essays on the Theory of the Market Econony
“[Dean] “My dear fellow, who will let you?”
[Roark] “That’s not the point. The point is, who will stop me?”
― The Fountainhead
[Roark] “That’s not the point. The point is, who will stop me?”
― The Fountainhead
Michael’s 2025 Year in Books
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