On the right side of this page, you’ll see links to my quote files.
(Just take the ?RANDOM=TRUE off the end of the URL to see a whole list.)
When I add a new quotation to the files, I usually put it at the end of the list, but sometimes I’ll think something is so concise and important that I put it at the top instead, just in case someone decides to read from top to bottom. By this semi-accidental process, my economics quotes list seems to have generated a top 5:
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The first lesson of economics is scarcity: There is never enough of anything to satisfy all those who want it.
The first lesson of politics is to disregard the first lesson of economics.
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Thomas Sowell
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- Prices aren’t just made up.
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Walter E. Williams, “Market Wonders”
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- When goods don’t cross borders, soldiers will.
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Fredric Bastiat
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- Prices are signals. They communicate vital information about the state of resources, goods, and services. Changes in those signals indicate changes in prevailing conditions — and stimulate remedial action: conservation by consumers and new supplies and alternative products from entrepreneurs. The idea that anything good can come from distorting or squelching those signals is astounding in its lack of wisdom. It’s equivalent to believing that a person with a fever can be helped by placing his thermometer in ice water.
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Sheldon Richman, Canute’s Courtiers Were Wrong
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- A regulation is essentially a tax on nonmonetary wealth such as time, liberty, energy, and property.
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James Ostrowski
Note #1: Mises and Rothbard have their own separate lists, which is why you don’t find them in this one.
Note #2: Anyone with the interest and inclination to submit candidates to fill in a full Top 10, I hereby encourage you to do so.