A Quote by Niall Ferguson
My fundamental tenets are concerned with freedom of the individual; the market isn't perfect, but it's the best available way of allocating resources.
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The important desideratum is freedom of the market; a country or region will often best develop, depending on conditions of resources or the market, by concentrating on one or two items and then exchanging them for other items produced elsewhere.
One of the basic philosophical tenets of conservatism - which says that the more power devolves from the federal government to the states, the greater individual freedom grows - is just flatly contradicted by crucial junctures in the country's life, most conspicuously in the 1860s and 1960s, when it's been the federal government that's interceded against the states to secure individual freedom.
The advantage of a free market is that it allows millions of decision-makers to respond individually to freely determined prices, allocating resources - labor, capital and human ingenuity - in a manner that can't be mimicked by a central plan, however brilliant the central planner.
The opportunities and threats existing in any situation always exceed the resources needed to exploit the opportunities or avoid the threats. Thus, strategy is essentially a problem of allocating resources. If strategy is to be successful, it must allocate superior resources against a decisive opportunity.
In all the great periods of the drama perfect freedom of choice and subject, perfect freedom of individual treatment, and an audience eager to give itself to sympathetic listening, even if instruction be involved, have brought the great results.
I haven't met too many people that don't intend to have a fulfilling life. High-achievers, however, end up allocating their resources in a way that seriously undermines their intended strategy.
You cannot afford to wait for perfect conditions. Goal setting is often a matter of balancing timing against available resources. Opportunities are easily lost while waiting for perfect conditions.
One of the fundamental responsibilities of any Canadian prime minister is to get our resources to market.
Socialized medicine must fail for the same reasons all socialism must fail: it offers no system for rationally allocating resources, and instead promotes the overutilization of all resources, ending in bankruptcy.
Any nation or government that deprives an individual of freedom is in that moment committing an act of moral and spiritual murder. Any individual who is not concerned about his freedom commits an act of moral and spiritual suicide.
Allocating coal linkage to a generating company rather than to a specific plant gives companies the freedom to use the fuel in the most efficient way.
we have complaints that institutional dominance of the stock market has put 'the small investor at a disadvantage because he can't compete with the trust companies' huge resources, etc. The facts are quite the opposite. It may be that the institutions are better equipped than the individual to speculate in the market.But I am convinced that an individual investor with sound principles, and soundly advised, can do distinctly better over the long pull than large institutions.
What Barack Obama calls bipartisanship is not moving to the right, but finding where people who consider themselves conservatives share these fundamental American values. When he talks about union, that's the kind of thing he means. That requires common responsibility. Individual responsibility is one of the hallmarks of conservative thought. In conservative religion, you yourself are responsible for whether you get into heaven. Or with fiscal conservatives, you are the market. It's your individual discipline and market discipline.
The only way that has ever been discovered to have a lot of people cooperate together voluntarily is through the free market. And that's why it's so essential to preserving individual freedom.
I think data is incredibly powerful for understanding what people are thinking and for allocating resources.
Our system freed the individual genius of man. Released him to fly as high & as far as his own talent & energy would take him. We allocate resources not by government. decision but by the millions of decisions customers make when they go into the market. place to buy. If something seems too high-priced we buy something else. Thus resources are steered toward those things the people want most at the price they are willing to pay. It may not be a perfect system but it's better than any other that's ever been tried.
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