Political Leaders In Capitalist Countries Who Cheer

There Is One And Only One Responsibility Of Business: To Use Its Resources And Engage In Activities Designed To Increase Its Profits So Long As It Stays Within The Rules Of The Game.

Adam Smith's Key Insight Was That Both Parties To An Exchange Can Benefit And That, So Long As Cooperation Is Strictly Voluntary, No Exchange Can Take Place Unless Both Parties Do Benefit.

I Cannot Disagree With You That Having Something Like 500 Economists Is Extremely Unhealthy. As You Say, It Is Not Conducive To Independent, Objective Research. You And I Know There Has Been Censorship Of The Material Published. Equally Important, The Location Of The Economists In The Federal Reserve Has Had A Significant Influence On The Kind Of Research They Do, Biasing That Research Toward Noncontroversial Technical Papers On Method As Opposed To Substantive Papers On Policy And Results

Because We Live In A Largely Free Society, We Tend To Forget How Limited Is The Span Of Time And The Part Of The Globe For Which There Has Ever Been Anything Like Political Freedom: The Typical State Of Mankind Is Tyranny, Servitude, And Misery.

What Makes It [economics] Most Fascinating Is That Its Fundamental Principles Are So Simple That They Can Be Written On One Page, That Anyone Can Understand Them, And Yet Very Few Do.