A Quote by Peter Boettke
We do not need to understand economics in order to experience the benefits of freedom of exchange and production. But we may very well need to understand economics in order to sustain and maintain the institutional framework that enables us to realize the benefits that flow from freedom of exchange and production.
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Freedom can flow from order. That is not to say that freedom always flows from order because you can have a totalitarian order and you can have an undemocratic order from which freedom will not flow, but that surest way to destroy freedom is to have chaos.
In any society, order is the first need of all. Liberty and justice may be established only after order is tolerably secure. But the libertarians give primacy to an abstract liberty. Conservatives, knowing that "liberty inheres in some sensible object," are aware that true freedom can be found only within the framework of a social order, such as the constitutional order of these United States. In exalting an absolute and indefinable "liberty" at the expense of order, the libertarians imperil the very freedoms they praise.
Economics has revealed a great truth about the natural law of human interaction: that not only is production essential to man's prosperity and survival, but so also is exchange.
Knowledge is and will be produced in order to be sold, it is and will be consumed in order to be valorised in a new production: in both cases, the goal is exchange.
Knowledge is and will be produced in order to be sold, it is and will be consumed in order to be valorised in a new production: in both cases, the goal is exchange
China likes the idea of sovereign rights when it comes to organizing their politics as they see fit, and their economics. But they may grudgingly come to understand certain things differently in the area of climate or disease. China is a country fairly integrated into the world. Yet China is uncomfortable with this idea because they worry it will constrain their freedom, politically and economically, to do what they believe they need to do to maintain political stability and cohesion.
We need God, not in order to understand the why, but in order to feel and sustain the ultimate wherefore, to give a meaning to the universe.
In order to improve the condition of mankind all men must be given the certainty of security through the exchange of safeguards, the assurance of prosperity through an exchange of resources, the reality of freedom through the free movement of information, persons and ideas.
I think I couldn't do what I do [live without money] without studying economics, because you need to understand the system first - how it currently works - in order to change it.
Modern bourgeois society with its relations of production, of exchange, and of property, a society that has conjured up such gigantic means of production and of exchange, is like the sorcerer, who is no longer able to control the powers of the nether world whom he has called up by his spells.
What you get out of an M.B.A. programme, no matter how much experience, is functional tools and understanding in disciplines: you'll understand economics, you'll understand marketing, finance, accounting. That, M.B.A. programmes do very well.
We who are living in the west today are fortunate. Freedom has been bequeathed to us. We have not had to carve it out of nothing; we have not had to pay for it with our lives. But it would be a grave mistake to think that freedom requires nothing of us. Each of us has to earn freedom anew in order to possess it. We do so not just for our own sake, but for the sake of our children, so that they may build a better future that will sustain over the world the responsibilities and blessings of freedom.
Outside the firm, price movements direct production, which is co-ordinated through a series of exchange transactions on the market. Within a firm, these market transactions are eliminated and in place of the complicated market structure with exchange transactions is substituted the entrepreneur-co-ordinator, who directs production.
Our goals are also the same, to have a just system of economics and politics, to let the people of the world share in growth, in peace, in personal freedom, and in the benefits to be derived from the proper utilization of natural resources. We believe in enhancing human rights. We believe that we should enhance, as independent nations, the freedom of our own people.
In order to really understand, we need to listen, not reply. We need to listen long and attentively. In order to help anybody to open his heart we have to give him time, asking only a few questions, as carefully as possible in order to help him better explain his experience.
If economics wants to understand the new economy, it not only has to understand increasing returns and the dynamics of instability. It also has to look at cognition itself, something we have never done before in economics.
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