Basic economics, p.82
Basic Economics, page 82
{952} “Crowned at Last,” a survey of consumer power, The Economist, April 2, 2005, p. 7.
{953} Rita Clifton and John Simmons, Brands and Branding (London: Profile Books, 2003), p. 19.
{954} The Urban Institute, The NonProfit Sector in Brief: Public Charities, Giving, and Volunteering, 2013 (Washington: Urban Institute, 2013), p. 2.
{955} Peter Hitchens, The Abolition of Britain (San Francisco: Encounter Books, 2000), p. 111.
{956} Adam Smith, An Inquiry into the Nature and Causes of the Wealth of Nations (New York: Modern Library, 1937), p. 718.
{957} Gunnar Myrdal, An American Dilemma: The Negro Problem & Modern Democracy (New York: Harper & Brothers, 1944), Volume I, p. 323; Harold J. Laski, The American Democracy (New York: Viking Press, 1948), p. 480.
{958} “Talented Black Scholars Whom No White University Would Hire,” Journal of Blacks in Higher Education, Winter 2003–2004, pp. 110–115.
{959} Michael R. Winston, “Through the Back Door: Academic Racism and the Negro Scholar in Historical Perspective,” Daedalus, Summer 1971, p. 705.
{960} Ben Gose, “The Companies That Colleges Keep,” Chronicle of Higher Education, January 28, 2005, p. B1.
{961} Ibid., p. B3.
{962} Ibid., p. B6.
{963} Ibid., p. B5.
{964} Matthew Kalman, “A Radical Experiment at Israel’s First Kibbutz,” San Francisco Chronicle, March 4, 2007, pp. A15, A16.
{965} Bonner R. Cohen, “The Environmental Working Group: Peddlers of Fear,” Organization Trends, January 2004, p. 2.
Chapter 25: “Non-Economic” Values
{966} John Corry, My Times: Adventures in the News Trade (New York: G.P. Putnam, 1993), p. 131.
{967} “Cutting Big Checks,” Forbes, October 8, 2007, p. 238.
{968} “Why Welfare?” The Economist, March 13, 2004, p. 78.
{969} “The Business of Giving,” a survey of wealth and philanthropy, The Economist, February 25, 2006, p. 4.
{970} “Natural Disasters,” The Economist, March 29, 2014, p. 97.
{971} “Living Dangerously,” a survey of risk, The Economist, January 24, 2004, p. 7.
{972} Daffodil Altan, et al., “Water Profit on Tap?” San Francisco Chronicle Magazine, February 9, 2003, p. CM-11.
{973} “Raise a Glass,” The Economist, March 22, 2003, p. 68.
{974} “Frozen Taps,” The Economist, May 31, 2003, p. 56.
{975} Gurcharan Das, India Unbound: The Social and Economic Revolution from Independence to the Global Information Age (New York: Alfred A. Knopf, 2001), p. 234.
{976} John Kay, Culture and Prosperity: The Truth About Markets—Why Some Nations Are Rich but Most Remain Poor (New York: HarperBusiness, 2004), p. 139.
{977} “Letters,” Editor & Publisher, October 8, 2001, p. 4.
{978} David K. Shipler, “A Poor Cousin of the Middle Class,” New York Times Magazine, January 18, 2004, p. 27.
{979} David S. Landes, The Wealth and Poverty of Nations: Why Some Are So Rich and Some So Poor (New York: W.W. Norton & Company, 1998), pp. 4–5.
{980} Holmes-Laski Letters: The Correspondence of Mr. Justice Holmes and Harold J. Laski 1916–1935, edited by Mark DeWolfe Howe (Cambridge, Massachusetts: Harvard University Press, 1953), Vol. I, p. 738.
Chapter 26: The History of Economics
{981} John Maynard Keynes, The General Theory of Employment Interest and Money (New York: Harcourt, Brace and Company, 1936), p. 383.
{982} Xenophon, “On the Means of Improving the Revenues of the State of Athens,” Early Economic Thought, edited by Arthur Eli Monroe (Cambridge, MA: Harvard University Press, 1924), pp. 33–49.
{983} St. Thomas Aquinas, “Summa Theological,” Ibid., p. 64.
{984} Thomas Mun, “England’s Treasure by Forraign Trade,” Ibid., pp. 171, 172.
{985} Sir James Steuart, The Works, Political, Metaphysical, and Chronological, of the Late Sir James Steuart of Coltness, Bart (London: T. Cadell and W. Davies, Strand, 1805), Volume I, p. 337.
{986} Adam Smith, An Inquiry into the Nature and Causes of the Wealth of Nations (New York: Modern Library, 1937), p. 79.
{987} Ibid., p. 250.
{988} Ibid., p. lvii.
{989} Ibid., p. 325.
{990} Ibid., p. 900.
{991} Ibid., pp. 80–81, 365; Adam Smith, The Theory of Moral Sentiments (Indianapolis: Liberty Classics, 1976), p. 337.
{992} Adam Smith, The Wealth of Nations, p. 423.
{993} Sir James Steuart, The Works, Volume I, pp. 4, 15, 73, 88.
{994} Adam Smith, The Wealth of Nations, p. 435.
{995} David Ricardo, The Works and Correspondence of David Ricardo, Volume VII: Letters 1816–1818, edited by Piero Sraffa (New York: Cambridge University Press, 1952), p. 372.
{996} Vance Packard, The Waste Makers (New York: D. McKay, Co., 1960), p. 7.
{997} Jean-Baptiste Say, A Treatise on Political Economy (Philadelphia: Grigg & Elliot, 1834), p. 137.
{998} Pierre François Joachim Henri Mercier de la Rivière, L’Ordre naturel et essentiel des sociétés politiques (London: Jean Nourse, 1767), Volume II, p. 272.
{999} George J. Stigler, Memoirs of an Unregulated Economist (New York: Basic Books, 1988), p. 93.
{1000} Adam Smith, The Wealth of Nations, p. 28.
{1001} Carl Menger, Principles of Economics, translated by James Dingwall and Bert F. Hoselitz (Auburn, AL: Ludwig von Mises Institute, 2007), p. 119; W. Stanley Jevons, The Theory of Political Economy, fifth edition (New York: Kelley & Millman, 1957), p. 39.
{1002} Carl Menger, Principles of Economics, translated by James Dingwall and Bert F. Hoselitz, p. 124.
{1003} W. Stanley Jevons, The Theory of Political Economy, fifth edition, pp. 162–163.
{1004} Alfred Marshall, Principles of Economics, eighth edition (London: Macmillan and Co., 1925), p. 348.
{1005} Alfred Marshall, Memorials of Alfred Marshall, edited by A.C. Pigou (New York: Kelley & Millman, Inc. 1956), p. 119.
{1006} Ibid., p. 174.
{1007} Ibid., pp. 418–419.
{1008} Nikolai Shmelev and Vladimir Popov, The Turning Point: Revitalizing the Soviet Economy (New York: Doubleday, 1989), p. 172.
{1009} J.A. Schumpeter, History of Economic Analysis (New York: Oxford University Press, 1954), p. 242.
{1010} Francois Quesnay, The Economical Table (New York: Bergman Publishers, 1968), p. viii.
{1011} Karl Marx, Capital (Chicago: Charles H. Kerr & Company, 1909), Volume II, Chapter XXI.
{1012} John Kenneth Galbraith, American Capitalism (White Plains, NY: M.E. Sharpe, Inc., 1980), p. 68.
{1013} Herbert Stein, Presidential Economics, second edition (Washington: American Enterprise Institute, 1988), p. 113.
{1014} Thomas Sowell, “Samuel Bailey Revisited,” Economica, November 1970, pp. 402–408.
{1015} Thomas S. Kuhn, The Structure of Scientific Revolutions, second edition (Chicago: University of Chicago Press, 1970), p. 17.
{1016} Jacob Viner, The Long View and the Short: Studies in Economic Theory and Policy (Glencoe, IL: Free Press, 1958), p. 79.
{1017} Karl Marx, Capital, Volume III, pp. 310–311; Karl Marx, “Wage Labour and Capital,” Karl Marx and Frederick Engels, Selected Works (Moscow: Foreign Languages Publishing House, 1955), Volume I, Section V, p. 99.
{1018} Adam Smith, The Wealth of Nations, p. 423.
{1019} Karl Marx and Frederick Engels, Selected Correspondence, 1846–1895, translated by Dona Torr (New York: International Publishers, 1942), p. 476.
{1020} Joseph A. Schumpeter, “Science and Ideology,” American Economic Review, March 1949, p. 352.
{1021} Ibid., p. 353.
{1022} Ibid., p. 355.
{1023} Ibid., p. 346.
{1024} Ibid., p. 358.
{1025} J.A. Schumpeter, History of Economic Analysis, p. 43.
{1026} Joseph A. Schumpeter, “Science and Ideology,” American Economic Review, March 1949, p. 359.
{1027} John Maynard Keynes, The General Theory of Employment Interest and Money, p. 383.
{1028} George J. Stigler, Essays in the History of Economics (Chicago: University of Chicago Press, 1965), p. 21.
{1029} Walter W. Heller, New Dimensions of Political Economy (Cambridge, MA: Harvard University Press, 1966), pp. 1, 2, 3.
{1030} Milton Friedman, “Have Monetary Policies Failed?” American Economic Review, Vol. 62, No. 1/2 (March 1, 1972), pp. 12, 17–18.
Chapter 27: Parting Thoughts
{1031} Friedrich A. Hayek, The Road to Serfdom (Chicago: University of Chicago Press, 1957), p. 239.
{1032} Paul Johnson, The Quotable Paul Johnson: A Topical Compilation of His Wit, Wisdom and Satire, edited by George J. Marlin, et al (New York: Farrar, Strauss and Giroux, 1994), p. 138.
Thomas Sowell, Basic Economics
