by ALN | May 20, 2020 | Adam Smith - Quotes, Quotes
It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own self-interest. We address ourselves not to their humanity but to their self-love, and never talk to them of our own necessities, but...
by ALN | May 16, 2020 | Need for Small Government
Adam Smith long ago recognized that “natural liberty,” which resulted from eliminating unjustified preferences and restraints, needed a government far smaller than one requiring innumerable regulations and mandates as well as trillions of dollars of taxes...
by ALN | May 16, 2020 | Hayek - Quotes
This is not a dispute about whether planning is to be done or not. It is a dispute as to whether planning is to be done centrally, by one authority for the whole economic system, or is to be divided among many individuals.
by ALN | May 16, 2020 | Von Mises - Quotes
Ludig von Mises
by ALN | May 16, 2020 | Economics - Definitions
Aggregate demand is an economic measurement of the total amount of demand for all finished goods and services produced in an economy. Aggregate demand is expressed as the total amount of money exchanged for those goods and services at a specific price level and point...
