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“All rational action is in the first place individual action. Only the individual thinks. Only the individual reasons. Only the individual acts.”
― Socialism: An Economic and Sociological Analysis
― Socialism: An Economic and Sociological Analysis
“Many who are self-taught far excel the doctors, masters, and bachelors of the most renowned universities.”
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“Money is not an invention of the state. It is not the product of a legislative act. Even the sanction of political authority is not necessary for its existence. Certain commodities came to be money quite naturally, as the result of economic relationships that were independent of the power of the state.”
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“He who is unfit to serve his fellow citizens wants to rule them.”
― Bureaucracy
― Bureaucracy
“It is natural that the appearance of pollution should have taken by surprise an economic science which has delighted in playing around with all kinds of mechanistic models. Curiously, even after the event economics gives no signs of acknowledging the role of natural resources in the economic process. Economists still do not seem to realize that, since the product of the economic process is waste, waste is an inevitable result of that process and ceteris paribus increases in greater proportion than the intensity of economic activity.”
― The Entropy Law and the Economic Process
― The Entropy Law and the Economic Process
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