Nothing Is So Permanent As A Temporary

The Only Reason Free Markets Have A Ghost Of A Chance Is That They Are So Much More Efficient Than Any Other Form Of Organization.

For Example, The Supporters Of Tariffs Treat It As Self-evident That The Creation Of Jobs Is A Desirable End, In And Of Itself, Regardless Of What The Persons Employed Do. That Is Clearly Wrong. If All We Want Are Jobs, We Can Create Any Number--for Example, Have People Dig Holes And Then Fill Them Up Again, Or Perform Other Useless Tasks. Work Is Sometimes Its Own Reward. Mostly, However, It Is The Price We Pay To Get The Things We Want. Our Real Objective Is Not Just Jobs But Productive Jobs--jobs That Will Mean More Goods And Services To Consume.

Universities Exist To Transmit Knowledge And Understanding Of Ideas And Values To Students Not To Provide Entertainment For Spectators Or Employment For Athletes.

Keynes Was A Great Economist. In Every Discipline, Progress Comes From People Who Make Hypotheses, Most Of Which Turn Out To Be Wrong, But All Of Which Ultimately Point To The Right Answer. Now Keynes, In 'the General Theory Of Employment, Interest And Money,' Set Forth A Hypothesis Which Was A Beautiful One, And It Really Altered The Shape Of Economics. But It Turned Out That It Was A Wrong Hypothesis. That Doesn't Mean That He Wasn't A Great Man!

The Real Tragedy Of Minimum Wage Laws Is That They Are Supported By Well-meaning Groups Who Want To Reduce Poverty. But The People Who Are Hurt Most By Higher Minimums Are The Most Poverty Stricken.