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Today's Wisdom

Presumptive Knowledge

By Monty Pelerin, on November 4th, 2009

Whatever field we are closest to, it is natural to assume that outsiders know more about it than they do because we assume “it is so important.” This episode from Jeopardy should be enough to alter this assumption regarding the field of economics.

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Repeal that [welfare] law, and you will soon see a change in their manners. St. Monday and St. Tuesday, will soon cease to be holidays. Six days shalt thou labor, though one of the old commandments long treated as out of date, will again be looked upon as a respectable precept; industry will increase, and with it plenty among the lower people; their circumstances will mend, and more will be done for their happiness by inuring them to provide for themselves, than could be done by dividing all your estates among them.
Benjamin Franklin
Society exists for the benefit of its members, not the members for the benefit of society.
Herbert Spencer
You can be dead by the time they find out what is wrong with you and do something about it. But that will "bring down the cost of medical care" because you won't be around to require any.
Thomas Sowell
One should respect public opinion in so far as is necessary to avoid starvation and to keep out of prison, but anything that goes beyond this is voluntary submission to an unnecessary tyranny.
Bertrand Russell
Live in such a way that you would not be ashamed to sell your parrot to the town gossip.
Will Rogers

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