Prof. Don Boudreaux Archives - Granite Grok

Prof. Don Boudreaux

Delayed Gratification

THIS is Delayed Gratification!

One of my (and should be EVERYONE’S!) pet peeves is the Left’s utter denigration of delayed gratification. The sense of putting off immediate desires for better outcomes in the future.

adam-smith1

Notable Quote – Adam Smith

The person who employs his stock in maintaining labour, necessarily wishes to employ it in such a manner as to produce as great a quantity of work as possible. He endeavours, therefore, both to make among his workmen the most proper distribution of employment, and to furnish them with the best machines which he can …

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Quotes

Notable Quote – why do we trust public officials as if they were non-partisan?

These People are politically driven. Even if (contrary to fact) there were a scientifically determinable single best course of government action in this crisis, what reason have These People given us to believe that they are capable of finding that course and of understanding it? And even if These People could find and understand this scientifically ‘best’ course of …

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Quotes

Notable Quote – Prof. Don Boudreaux

Emphasis mine: Industrial policy is the replacement of price-guided resource-allocation patterns with commands issued by politicians and their hirelings. But as Hayek points out, it is impossible for politicians and their hirelings to possess any of the “knowledge of the particular circumstances of time and place” that must be known if the resulting use of …

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Price

Notable Quote – Prof. Don Boudreaux

…This system of prices and wages conveys reasonably reliable information to each individual about the consequences that will be experienced not only by her, but also by other people – most of them complete strangers – as a result of her choice of how to use her resources.

Notable Quote – George Will, Prof. Don Boudreaux

Can a federal government that acknowledges no limits to its scope, and that responds promiscuously to the multiplying appetites of proliferating factions, make choices that serve the society’s long-term interests? The answer, based on the avalanche of evidence from current governance, is an emphatic “no.” The evidence is in the rise of the administrative state …

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Adam Smith on Self-Interest

Notable Quote – Dr. Don Boudreaux

Freedom of exchange and production within a regime of private property rights and freedom of contract harnesses self-interest to the public good. Admiration and endorsement of free markets is not – contrary to much uninformed commentary – admiration and endorsement of greed or materialism. It is, instead, the reflection of an acceptance of the reality …

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30 day trial of Socialism

Notable Quote – Jim Buchanan

Frank Knight could never have joined those of the self-selected elite who, in idea or practice, seek to plan, steer, or direct the lives of those who are excluded. He was a classical liberal, not because he predicted that only with widespread individual liberty would desired results be generated, but because the liberal order is …

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Price

Notable Quote – George Will

[Welfare] states presuppose economic dynamism sufficient to generate investments, job creation, corporate profits, and individuals’ incomes from which come tax revenues needed to fund entitlements. But welfare states produce in citizens an entitlement mentality and a low pain threshold. That mentality inflames appetites for more entitlements, broadly construed to include all government benefits and protections …

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