"[T]he immense majority of mankind have a bias in favor of their own satisfactions, and that one of the purposes of morality is to diminish the strength of this bias."
—
Henry Hazlitt
[Let me note here that Hazlitt gives a utilitarian (not religious) positive analysis of morality in his book, The Foundations of Morality.]
"Wise and discipled men refuse to indulge in immediate pleasures when the indulgence seems only too likely to lead in the long run to an overbalance of misery or pain."
— Henry Hazlitt
"Incidentally, I find it strange to recall that my education was utterly dominated by two stories: the Bible’s and Rome’s. Both were disappointing examples of history. One told the story of an obscure, violent and somewhat bigoted tribe and one of its later cults, who sat around gazing at their theological navels for a few thousand years while their fascinating neighbours—the Phoenicians, Philistines, Canaanites, Lydians and Greeks—invented respectively maritime trade, iron, the alphabet, coins and geometry. The other told the story of a barbarically violent people who founded one of the empires that institutionalised the plundering of its commercially minded neighbours, then went on to invent practically nothing in half a millennium and achieve an actual diminution in living standards for its citizens, very nearly extinguishing literacy as it died. I exaggerate, but there are more interesting figures in history than Jesus Christ or Julius Caesar."
— Matt Ridley
"The answer to constraining rent-seeking expendtures is to constrain the ability of government to create rents."
— Allen Dalton
"In scholarship it is not perhaps necessity, but prejudice, that is the mother of invention."
— Mancur Olson
The invisible hand will smite you.
"Then I ask you, I plead with you, I beg you all, walk out of here [the Fed] with me, never to come back. It’s the moral and ethical thing to do. Nothing good goes on in this place. Let’s lock the doors and leave the building to the spiders, moths, and four-legged rats."
— Robert Wenzel
"The government is good at one thing. It knows how to break your legs, and then hand you a crutch and say, ‘See if it weren’t for the government, you wouldn’t be able to walk’"
— Harry Browne
This is a short analysis of task distribution within my own profession, hanging wallpaper.
A simple way to think about how different agents are assigned different tasks is by looking at solely two agents, A and H, and two tasks, 1 and 2, with the level of output, y, governed by y=ƒ(τ1, τ2), where τ1 and τ2 are the amounts of task 1 and 2 carried out. To understand which agent would perform which task more optimally it is normally assumed that the agents are heterogeneous (for if they had the same abilities to perform a task, deciding on which one would more optimally perform a task would be a pointless inquiry) and the tasks, similarly, are heterogeneous, requiring different skills. Agent A’s ability is characterized by the pair aA1, aA2, with aAi representing the maximum amount of task i (1, 2) he can perform if he devotes all of his time to it. Similarly, the pair (aH1, aH2) characterizes agent H’s ability. The final assumption of the model is that agents are free to perform both tasks.
Read More
"In their intense meditation the hidden sound of things approaching reaches them and they listen reverently while in the street outside the people hear nothing at all."
— C. P. Cavafy
"For the gods perceive things in the future, ordinary people things in the present, but the wise perceive things about to happen."
— Philostratus