Economy Quotes
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When issues of events like these my father is waiting for, are hanging in the scales of fate, the mind has the advantage of changing the principle of expectation three times, without which it would not have power to see it out. Curiosity governs the first moment; and the second moment is all economy to justify the expense of the first — and for the third, fourth, fifth, and sixth moments, and so on to the day of judgment — 'tis a point of HONOUR. I need not be told, that the ethic writers have assigned this all to Patience; but that VIRTUE, methinks, has extent of domination sufficient of her own, and enough to do in it, without invading the few dismantled castles which HONOUR has left him upon the earth. Basically, what I believe in is neither capitalism nor globalization... I believe in man's capacity for achieving great things and in the combined force resulting from encounters and exchanges. I plead for greater liberty and a more open world... because it provides a setting which liberates individuals and their creativity as no other system can. It spurs the dynamism which has led to human, economic, scientific, and technical advances, and which will continue to do so. Believing in capitalism does not mean believing in growth, the economy, or efficiency. Desirable as these may be, these are only the results. Belief in capitalism is, fundamentally, belief in mankind. The very name of my subject, economics, suggests economizing or maximizing. But Political Economy has gone a long way beyond home economics. Indeed, it is only in the last third of the century, within my own lifetime as a scholar, that economic theory has had many pretensions to being itself useful to the practical businessman or bureaucrat. I seem to recall that a great economist of the last generation, A. C. Pigou of Cambridge University, once asked the rhetorical question, Who would ever think of employing an economist to run a brewery? Well, today, under the guise of operational research and managerial economics, the fanciest of our economic tools are being utilized in enterprises both public and private.