Attend with Diligence and strict Integrity to the Interest of your Correspondents and enter into no Engagements which you have not the almost certain Means of performing.
Liberty should be understood as freedom from the government, specifically, freedom from the initiation of physical force by the government.
In the 1950s, I proposed the survivor method of determining the efficient sizes of enterprises, and worked on delivered price systems, vertical integration, and similar topics.
I met my wife, Margaret L. Mack, at the University of Chicago. We were married in 1936. She died in 1970.
When I was growing up in South Korea in the '70s and early '80s, the country was too poor to buy original records. Everything was bootlegged.
I used to joke that I came to England - not to the U.S. where most Koreans go - because I like Arthur Conan Doyle and Agatha Christie.
Indeed, willingness to challenge professional economists and other experts is a foundation stone of democracy. If all we have to do is to listen to the experts, what is the point of having democracy?
Very often, the judgments by ordinary citizens may be better than those by professional economists, being more rooted in reality and less narrowly focused.
Without there being some national strategy, it is difficult for educators to know what kinds of engineers or technicians to produce and for potential students to know what professions to study for.
By adopting the other trade, we place ourselves by the side of those whose measures tend not only to the improvement of their own subjects, but to the emancipation of the slave everywhere.
In 1833, protection was abandoned, and a tariff was established by which it was provided that we should, in a few years, have a system of merely revenue duties.
From that date the abandonment of the older State proceeded with a rapidity never before known, and with it grew the domestic slave trade and the pro-slavery feeling.
I'm no genius, and others can outwork me. What I do is ask the naive, honest questions, and then I'm not satisfied until I get the answers.
We say we need to clean up the environment; to clean up the environment, we need to be richer. But maybe getting richer is actually making us poorer.
Around 1967 I began backing away from dogmatic Leninism, not so much because I thought it was false, I just decided there was nothing utopian about it.
The spirit of Southwest Airlines is exuberant, it's caring, it's dedicated, it's diligent, it's fun, it's rewarding, it's a joy.
I've found that many of the greatest ideas surface in bars because that's where many people cultivate inspiration.
Just because you don't announce your plan doesn't mean you don't have one.
One piece of advice that always stuck in my mind is that people should be respected and trusted as people, not because of their position or title.
To spend this particular year reading essays to Dennis Robertson as one's supervisor, and, simultaneously, enjoying membership of the group round Keynes was indeed an intellectual treat.
My interest in economics has always been in the whole corpus of economic theory, the interrelationships between the various fields of theory and their relevance for the formulation of economic policy.
