Quotes About Market Economy

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Quotes About Market Economy

As soon as the economic freedom which the market economy grants to its members is removed, all political liberties and bills of rights become humbug.
— Ludwig von Mises —

Risk, as first articulated by the economist Frank H. Knight in 1921,45 is something that you can put a price on. Say that you'll win a poker hand unless your opponent draws to an inside straight: the chances of that happening are exactly 1 chance in 11.46 This is risk. It is not pleasant when you take a "bad beat" in poker, but at least you know the odds of it and can account for it ahead of time. In the long run, you'll make a profit from your opponents making desperate draws with insufficient odds. Uncertainty, on the other hand, is risk that is hard to measure. You might have some vague awareness of the demons lurking out there. You might even be acutely concerned about them. But you have no real idea how many of them there are or when they might strike. Your back-of-the-envelope estimate might be off by a factor of 100 or by a factor of 1,000; there is no good way to know. This is uncertainty. Risk greases the wheels of a free-market economy; uncertainty grinds them to a halt.

— Nate Silver

It had been well known for twenty years that the distribution of large and small earthquakes followed a particular mathematical pattern, precisely the same scaling pattern that seemed to govern the distribution of personal incomes in a free-market economy.

— James Gleick

The thing that makes reading and writing suspect in the eyes of the market economy is that it's not corrupted.

— Richard Powers

There is no pure free-market economy.

— Jeane Kirkpatrick

The free market economy is supposed to be the only path leading to the happiness of humanity by promoting wealth and prosperity, power and influence of nations.

— Omar Bongo

In the 19th century, a lot of people were against outlawing child labour, because to do so would be against the very foundations of a free market economy: 'These children want to work, these people want to employ them ... what is your problem? It's not as if anyone has kidnapped them ... '

— Brian Eno

I know their unstinted devotion to the free-market economy, provided it's their freedom and somebody else's economy.

— John Le Carré

The real bosses in the capitalist system of market economy are the consumers. They by their buying and by their abstention from buying decide who should own the capital and run the plants. They determine what should be produced and in what quantity and quality. Their attitudes result either in profit or in loss for the enterpriser. They make poor men rich and rich men poor. They are no easy bosses.

— Ludwig Von Mises

Multinational corporations and a market economy have transformed human beings into instruments of making money. Human beings should be the end. And money should be the means to an end.

— Satish Kumar

A market economy is a tool - a valuable and effective tool - for organizing productive activity. A market society is a way of life in which market values seep into every aspect of human endeavour. It's a place where social relations are made over in the image of the market.

— Michael Sandel

The socialism of centralised state control of industry and production, is dead. It misunderstood the nature and development of a modern market economy. It failed to recognise that the state and public sector can become a vested interest capable of oppression as much as the vested interests of wealth and capital. it was based on a false view of class that became too rigid to explain or illuminate the nature of class division today.

— Tony Blair

There is no use in deceiving ourselves. American public opinion rejects the market economy, the capitalistic free enterprise system that provided the nation with the highest standard of living ever attained. Full government control of all activities of the individual is virtually the goal of both national parties.

— Ludwig Von Mises

What vitiates entirely the socialists economic critique of capitalism is their failure to grasp the sovereignty of the consumers in the market economy.

— Ludwig Von Mises

The market economy as such does not respect political frontiers. Its field is the world.

— Ludwig Von Mises

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