Mark Skousen Quotes

“The triumph of persuasion over force is the sign of a civilized society.”

— Mark Skousen

“A coat is not worth eight times as much as a hat to the community because it takes eight times as long to make it ... The community is willing to devote eight times as long to the making of a coat because it will be worth eight times as much to it”

— Mark Skousen

“The nature of capital was a major debate issue at the turn of the twentieth century because economist wanted to know how quickly the economy could adjust and recover from a depression. If capital were homogeneous and highly liquid, then the adjustment process should not take long and the economy could soon be back on its feet. But if capital were heterogeneous and not easily transferable to other uses, then the adjustment process could take much longer and it might take years for a nation to recover from a depression”

— Mark Skousen

“The reality is that business and investment spending are the true leading indicators of the economy and the stock market. If you want to know where the stock market is headed, forget about consumer spending and retail sales figures. Look to business spending, price inflation, interest rates, and productivity gains.”

— Mark Skousen

One suggestion my wife and I have used in our personal finance courses we teach at college is simply writing down all expenditures and seeing where the money goes. That alone will cause heads of households to think twice about x, y or z expenditure, and to consider carefully whether they really need something or not.

— Mark Skousen

“Fraud is common when you give away billions. Fraud related to Hurricane Katrina spending is estimated to top $2 billion. In addition, debit cards provided to hurricane victims were used to pay for Caribbean vacations, NFL tickets, Dom Perignon champagne, 'Girls Gone Wild' videos, and at least one sex change operation.”

— Mark Skousen

“We shall never change our political leaders until we change the people who elect them.”

— Mark Skousen

“I have on my bookshelf a series of books with opposite titles: 'The Alpha Strategy' and the 'Omega Strategy'; 'Asia Rising' and 'Asia Falling'; 'Free to Choose' and 'Free to Lose'; 'How to Win Friends and Influence People' and 'How to Lose Friends and Alienate People.' Visitors love the collection.”

— Mark Skousen

“In my lifetime, as a younger man, you were assumed to be an honest person. Your word was your bond, and a handshake was as good as a contract in business.”

— Mark Skousen

“Lawmakers who interfere with commerce and the normal creation of jobs in an economy run the risk of doing harm rather than good. Unintended consequences from regulating or legislating to achieve a goal can occur and cause havoc in the markets or an economy.”

— Mark Skousen

“The fundamental flaw in Social Security and Medicare is that they violate the 'welfare principle' in economics. The welfare principle forms the fundamental basis of all charitable work in churches and other private organizations: assist those who need help, and equally important, don't assist individuals who can take care of themselves.”

— Mark Skousen

Bitcoin is not an actual physical coin, and if computers are shut down, you can't buy or sell them. That's why nothing will ever replace gold and silver coins themselves, and all investors should have them at home or in a safe deposit box.

— Mark Skousen

“Market capitalism survived and prospered after the boom-bust industrial revolution of the 19th century, and the Great Depression and world wars of the 20th century. It will recover from the financial panic of 2008-09 and Obamanomics.”

— Mark Skousen

The income tax is flawed for a number of reasons - it discourages economic growth and encourages a bloated government.

— Mark Skousen

“Millions of Americans were duped by the federal government and the Federal Reserve into buying homes they could not afford and failed to count the cost. When the financial crisis of 2008 hit, they could not keep up the monthly mortgage payments and defaulted.”

— Mark Skousen

“If you are wealthy enough, use part or all of your Social Security proceeds to invest in a favorite cause or two. Invest 10 percent or 100 percent of your monthly Social Security check in your favorite charity, foundation, think tank, church or synagogue, or other good cause.”

— Mark Skousen

“All workers, whether they are employed in the private or public sector, should avoid living 'paycheck to paycheck.' Studies show that every household wastes 10% or more of its salary or income on unnecessary expenditures or by not taking the time to shop for better prices. It's all a matter of proper budgeting.”

— Mark Skousen

“Since the 1970s, I've been a big fan of attending conferences as a great way to learn, network, socialize and enjoy a new environment. It's always refreshing to get out and see a whole new world.”

— Mark Skousen

“Balance in life is the key, as Aristotle taught us. Nobody likes a naive Pollyanna, but neither do we like to be around people who are constantly complaining and finding fault.”

— Mark Skousen

“Bill Gates and Warren Buffett have their 'Giving Pledge,' where billionaires promise to give away the majority of their wealth when they die. My Social Security Pledge is better - to give money to good causes when you are alive. Besides, more Americans can participate.”

— Mark Skousen

I've felt for some time that economics needs to be taught differently by economists who actually have had experience making a payroll or investing on Wall Street. When economics is taught by pure academics, watch out.

— Mark Skousen

“Our society does not give nearly enough credit to business leaders who create jobs, behave ethically and provide products and services that enhance our lives.”

— Mark Skousen

“Society can take two roads - the road to genuine prosperity, or the road to artificial stimulus. The first results in a permanent higher standard of living for all; the latter creates an inflationary boom that cannot last.”

— Mark Skousen

“You can give your Social Security check to any organization, public or private, or to individuals. You can donate it to your favorite political party. You can give the funds to a student scholarship - for your grandchildren, for example - or to somebody who has a medical need. Or you can invest your government check in free enterprise.”

— Mark Skousen

Contrary to what President Obama said in his inaugural address, going on Medicare and food stamps does not strengthen us. Just ask people who are fourth-generation welfare recipients.

— Mark Skousen

“It is business that generates the jobs, income and taxes that keep a country going.”

— Mark Skousen

Remember, gold and silver always have had value and never have gone to zero. Can you say the same for stocks and bonds?

— Mark Skousen

“YouTube offers the best solution by running an ad before showing the video, but also offering a 'skip ad' button that you can click after five seconds to go directly to the video if you are not interested in the ad. Now, that's what I call consumer sovereignty!”

— Mark Skousen

“Even though I've reached retirement age, I still plan to work - writing my investment newsletter, speaking at conferences, publishing books, and producing conferences like FreedomFest.”

— Mark Skousen

“In my book, 'The Big Three in Economics,' I found that the press has frequently and prematurely written the obituary of Adam Smith and his free-market philosophy, only to see a new and more vibrant global marketplace reemerge after being savagely attacked by Keynesians, Marxists, and assorted socialists.”

— Mark Skousen

Life is full of joys and sorrows, much of it our own making. Sadly, the West has voted time and time again for bigger government, more inflation, higher taxes and excessive regulation - all policies that have kept us from Adam Smith's vision of an opulent society.

— Mark Skousen

“In the early 1980s, I wrote a book called 'The Complete Guide to Financial Privacy.' If I would write that book today, it would be a pamphlet. There is precious little privacy left.”

— Mark Skousen

“Who uses funds more productively - private citizens or the government? I dare say that Warren Buffett can use his surplus funds more effectively in private business and creating jobs than the government can.”

— Mark Skousen

I am tired of the constant demonizing of people via political labels.

— Mark Skousen

In the early 1980s, I burned my Social Security card at the New Orleans Investment Conference in protest of the state pension system.

— Mark Skousen

“Negative books can be bestsellers, but seldom classics.”

— Mark Skousen

“The media simply does not understand Econ 101.”

— Mark Skousen

If you subscribe to any online service, whether it be AOL, Google, Yahoo, or the Huffington Post, have you noticed that you are forced to watch a seemingly endless ad before the video story appears about a news item that caught your eye? AOL and the Huffington Post are especially annoying.

— Mark Skousen

“The U.S. Constitution was meant to be universal, not just something that only America would observe. The principle of defending liberty for all people ideally should apply everywhere in the world.”

— Mark Skousen

“We should not forget the principles of Christian mercy and justice: to welcome back those who are repentant and need our assistance, while encouraging the faithful to endure to the end.”

— Mark Skousen

“In short, my vision of a responsible free society is one in which we discourage evil, but do not prohibit it. We make our children and students aware of the consequences of drug abuse and other forms of irresponsible behavior. But after all our persuading, if they still want to use harmful drugs, that is their privilege. In a free society, individuals must have the right to do right or wrong, as long as they don't threaten or infringe upon the rights or property of others. They must also suffer the consequences of their actions, as it is from consequences that they learn to choose properly”

— Mark Skousen

“Back in 1960, the paper dollar and the silver dollar both were the same value. They circulated next to each other. Today? The paper dollar has lost 95% of its value, while the silver dollar is worth $34, and produced a 2-3 times rise in real value. Since we left the gold standard in 1971, both gold and silver have become superior inflation hedges.”

— Mark Skousen

“The profit motive promotes economic growth by creating better products at cheaper prices.”

— Mark Skousen

“Most of Marx's predictions have failed to materialize, and his labor theory of value and other ideas have been proven wrong. Marx failed to recognize the incentive system built into the capitalist model - consumer choice and the profit motive of the entrepreneur. The irony is that capitalism, not socialism or Marxism, that has liberated the worker from the chains of poverty, monopoly, war, and oppression, and has better achieved Marx's vision of a millennium of hope, peace, abundance, leisure, and aesthetic expression for the 'full' human being.”

— Mark Skousen

“When everyone is a contrarian, nobody is a contrarian”

— Mark Skousen

“Here in America, government began as a tool to assure freedom. It gradually turned into a hideously expensive political toy designed to redistribute your wealth and control most aspects of your business and private life.”

— Mark Skousen

“In a free society, individuals have the right to do right or wrong, as long as they don't threaten or infringe upon the rights or property of others.”

— Mark Skousen

“Gold is as steady as a rock, a standardbearer by which all currencies can be accurately measured.”

— Mark Skousen

“You can judge a man by the books in his library.”

— Mark Skousen

“Today's political leaders demonstrate their low opinion of the public with every social law they pass. They believe that, if given the right to chose, the citizenry will probably make the wrong choice. Legislators do not think any more in terms of persuading people; they feel the need to force their agenda on the public at the point of a bayonet and the barrel of a gun, in the name of the IRS, the SEC, the FDA, the DEA, the EPA, or a multitude of other ABCs of government authority.”

— Mark Skousen