Those Who Yearn For The End Of

Under The Privilege Of The First Amendment Many, Many Ridiculous Things Are Said.

The Oldest Problem In Economic Education Is How To Exclude The Incompetent. A Certain Glib Mastery Of Verbiage-the Ability To Speak Portentously And Sententiously About The Relation Of Money Supply To The Price Level-is Easy For The Unlearned And May Even Be Aided By A Mildly Enfeebled Intellect. The Requirement That There Be Ability To Master Difficult Models, Including Ones For Which Mathematical Competence Is Required, Is A Highly Useful Screening Device.

The Genius Of The Industrial System Lies In Its Organized Use Of Capital And Technology. This Is Made Possible, As We Have Duly Seen, By Extensively Replacing The Market With Planning.

It's Much Easier To Point Out The Problem Than It Is To Say Just How It Should Be Solved.

The Questions That Are Beyond The Reach Of Economics-the Beauty, Dignity, Pleasure And Durability Of Life-may Be Inconvenient But They Are Important.