A Quote by Thomas Sowell
Lunches don't get free just because you don't see the prices on the menu. And economists don't get popular by reminding people of that.
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Basically if you study entrepreneurs, there is a misnomer: People think that entrepreneurs take risk, and they get rewarded because they take risk. In reality entrepreneurs do everything they can to minimize risk. They are not interested in taking risk. They want free lunches and they go after free lunches.
Economists who studied in the '80s tend to have a pretty crude neoclassical view that's just about freeing up prices and markets, and then you'll get the growth and everybody benefits. And they'll just repeat that, because if you're a minister or a senior civil servant, you don't have time to read anything anymore. You get very fixed in your views.
The public is looking for free lunches, and the political competition for votes makes the politicians offer them free lunches.
Monopolies are bad because people get bad service for high prices. Competition is good because people get good service for competitive prices.
One of the reasons so many people get burned in the market is because they start buying as they see prices going up.
If I keep going outside, I get distracted - and all these lunches and things I get invited to, I just don't care. I just want to make the work. New York is very distracting.
And other people get the opportunity to leave prison, and then they do something to get put back in there because they can't actually function in society. It's really cool because you get to see all these different women, their backstories, where they come from, their upbringing and why they get to where they get to, and they're all completely different. It's really cool that you get to see all those storylines.
It takes me about three years to write a book. They're very complex, and they take a lot of research, but also because the more popular your books get, the more popular you get, and people want to haul you off and look at you.
Ability to download music for free might not be positive for the artists to get royalties, but in some ways it's still good that people can get your music, and hopefully in the course of that, people will want to see you live, around the world shows. It might get you to where you get to travel all over the planet. 'Cause now people are hungry: "Oh, I wanna see this guy, I wanna hear this music live, I wanna see if they're gonna remix it or funk it up differently when I see them."
The problem is, to have prices fall would work fine if we didn't have all these built in rigidities on downward prices, because then things don't adjust, and that's how we have recessions and depressions, is prices and costs don't adjust together and they get out of whack, and we end up with dislocations.
To economists, prices serve as crucial signals to producers and consumers. In a regulated market, the state sets prices high enough for private companies to cover their costs and earn a guaranteed profit for their investors. But in a deregulated market, prices should vary with demand and supply.
Like many free market economists, with whom he had little else in common, Nehru seemed to believe that people will find a way to get their children educated.
It's weird when people are just staring at you because the thing is, people are not quite sure ... I get a lot of: "Are you off the TV?" It's funny. I don't and I don't get to the sort of clubs where people expect to see you.
I think any way of getting people into the field by lowering the threshold of the cost to get them to play, is great. That said, there's all these restaurants around that are very popular that have one menu. And they don't even have tables, and they don't even have backs on their chairs. It's not really the experience I'm after, but I'm happy they exist.
I kind of hate to be the voice of doom, but I just can't see how prices can't go down. I think people have actually forgotten that property prices can decrease. There's this feeling that they just won't fall, but, of course, that's not true.
I've been to hundreds of conventions in my career. Sometimes I'm afraid I may get jaded by them. But then, I see a figure in bright colors walking up to me, and I smile. I thank them for reminding me of just how lucky I am to do what I get the honor to do every day of my life.
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