Economics is a theoretical science and as such abstains from any judgement of value. It is not its task to tell people what ends they should aim at. It is a science of the means to be applied for attainment of ends chosen, not, to be sure, a science of the choosing of ends. Ultimate decisions, the valuations and the choosing of ends, are beyond the scope of any science. Science never tells a man how he should act; it merely shows how a man must act if he wants to attain definite ends.
You May Also Like / View all maxioms
...it is solely bigness in business which makes it possible to supply the masses with all those products the present-day read more
...it is solely bigness in business which makes it possible to supply the masses with all those products the present-day American common man does not want to do without. Luxury goods for the few can be produced in small shops. Luxury goods for the many require big business.
Corporations cannot commit treason, or be outlawed or excommunicated, for they have no souls.
Corporations cannot commit treason, or be outlawed or excommunicated, for they have no souls.
The manager with the in basket problem does not yet understand that he must discipline himself to take care of read more
The manager with the in basket problem does not yet understand that he must discipline himself to take care of activities that fail to excite him.
When people go to work, they shouldn't have to leave their hearts at home.
When people go to work, they shouldn't have to leave their hearts at home.
Price fixing does not represent simply windfall gains and losses to particular groups according to whether the price happens to read more
Price fixing does not represent simply windfall gains and losses to particular groups according to whether the price happens to be set higher or lower than it would be otherwise. It represents a net lose to the economy as a whole to the extent that many transactions do not take place at all, because the mutually acceptable possibilities have been reduced.
He who lives by the crystal ball soon learns to eat ground glass.
He who lives by the crystal ball soon learns to eat ground glass.
An economist is an expert who will know tomorrow why the things he predicted yesterday didn't happen today.
An economist is an expert who will know tomorrow why the things he predicted yesterday didn't happen today.
The trouble with being poor is that it takes up all your time.
The trouble with being poor is that it takes up all your time.
A fool and his money are soon parted. - Five Hundred Points of Good Husbandry.
A fool and his money are soon parted. - Five Hundred Points of Good Husbandry.
