Tuesday, February 24, 2009

Good Quotes

Scott Grannis at his blog, Calafia Beach Pundit has some insightful quotes from economic thinkers of the past:

J.S. Mill: “Consumption never needs encouragement.”

J.B. Say: “It is the aim of good government to stimulate production, of bad government to stimulate consumption.”

J.S. Mill: “The usual effect of attempts of government to encourage consumption, is merely to prevent savings; that is, to promote unproductive consumption at the expense of reproductive, and to diminish the national wealth by the very means which were intended to increase it.”

F. A. Hayek: "Knowledge in our field is never established by experiment, but can be acquired only by following a rather difficult process of reasoning. No knowledge can be regarded as established once and for all … you have always to convince every generation anew. In fact, knowledge once gained and spread is simply lost and forgotten.”

Note - If you are looking for a blog with really good economic data (in the form of easy to read charts and graphs, of course!) from a free market perspective I recommend Scott's blog. He's pretty easy to read as well.

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