A Quote by Nassau William Senior
The first, or theoretic branch, that which explains the nature, production, and distribution of wealth, will be found to rest on a very few general propositions, which are the result of observation, or consciousness.
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We have three approaches at our disposal: the observation of nature, reflection, and experimentation. Observation serves to assemble the data, reflection to synthesise them and experimentation to test the results of the synthesis. The observation of nature must be assiduous, just as reflection must be profound, and experimentation accurate. These three approaches are rarely found together, which explains why creative geniuses are so rare.
Under the old social philosophy which had governed the Middle Ages, temporal, and therefore all economic, activities were referred to an eternal standard. The production of wealth, it distribution and exchange were regulated with a view to securing the Christian life of Christian men. In two points especially was this felt: First in securing the independence of the family, which can only be done by the wide distribution of property, in others words the prevention of the growth of a proletariat; secondly, in the close connection between wealth and public function.
To control the production of wealth is to control human life itself. To refuse man the opportunity for the production of wealth is to refuse him the opportunity for life; and, in general, the way in which the production of wealth is by law permitted is the only way in which the citizens can legally exist.
The only distribution of wealth which is the product of labor, which will be honest, will come through a more equal distribution of the productive capacity of men.
The mathematician starts with a few propositions, the proof of which is so obvious that they are called self-evident, and the rest of his work consists of subtle deductions from them. The teaching of languages, at any rate as ordinarily practiced, is of the same general nature authority and tradition furnish the data, and the mental operations are deductive.
We propose in the following Treatise to give an outline of the Science which treats of the Nature, the Production, and the Distribution of Wealth. To that Science we give the name of Political Economy.
The words Socialism and Communism have the same meaning. They indicate a condition of society in which the wealth of the community: the land and the means of production, distribution and transport are held in common, production being for use and not for profit.
The production of wealth is the result of agreement between labor and capital, between employer and employed. Its distribution, therefore, will follow the law of its creation, or great injustice will be done.
Philosophy, certainly, is some account of truths the fragments and very insignificant parts of which man will practice in this workshop; truths infinite and in harmony with infinity, in respect to which the very objects and ends of the so-called practical philosopher will be mere propositions, like the rest.
One of the most exciting things about dark energy is that it seems to live at the very nexus of two of our most successful theories of physics: quantum mechanics, which explains the physics of the small, and Einstein's Theory of General Relativity, which explains the physics of the large, including gravity.
The country which is in advance of the rest of the world in chemistry will also be foremost in wealth and in general prosperity.
As mass production has to be accompanied by mass consumption, mass consumption, in turn, implies a distribution of wealth ... to provide men with buying power. ... Instead of achieving that kind of distribution, a giant suction pump had by 1929-30 drawn into a few hands an increasing portion of currently produced wealth. ... The other fellows could stay in the game only by borrowing. When their credit ran out, the game stopped.
[It] may be laid down as a general rule that, if the result of a long series of precise observations approximates a simple relation so closely that the remaining difference is undetectable by observation and may be attributed to the errors to which they are liable, then this relation is probably that of nature.
Economics is not politics. One is a science, concerned with the immutable and constant laws of nature that determine the production and distribution of wealth; the other is the art of ruling.
The slave states of Western world are an outgrowth of monopolistic capitalism - an economic system which is opposed to the wide distribution of private property in many hands. Instead, monopolistic capitalism concentrates productive wealth among a few men, allowing the rest to become a vast proletariat.
I grew up in the Southwest Bronx. Father an accountant, mother a schoolteacher. Brother was six years older, which explains why I gobbled crystal meth at 12, smoked hashish at 13, and was shooting smack at 17, which explains how I got Hepatitis C, which was the basis of my first book, which was a humor book about dying.
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