Welfare Quotes - page 7
Since I shall be indicating my disagreement with some of the points made by Professor Israel Kirzner, let me stress that I am in complete sympathy with his point of departure, namely, the emphasis on the dispersion of information among economic decision-making units (called by him, "Hayek's knowledge problem") and the consequent problem of transmission of information among those units.
Much of my own research work since the 1950s has been focused on issues in welfare economics viewed from an informational perspective. The ideas of Hayek (whose classes at the London School of Economics I attended during the academic year 1938-39) have played a major role in influencing my thinking and have been so acknowledged.
Leonid Hurwicz
In this time, when the games and abuses of secret societies were without end, I wanted to make use of this human weakness for a real and worthy goal, the welfare of mankind.... I wanted what the heads of the ecclesiastical and secular powers should do and want by virtue of their offices.
Adam Weishaupt
The economic betterment of a nation which is at a low level of intelligence and culture, or in which the population is small in relation to the extent and productivity of its territory, is best accomplished through free trade with highly cultivated, rich, and industrious nations. In the case of such a country every restriction of trade, intended to plant manufacturing industry within its borders, is premature and injurious, not only to the welfare of mankind in general, but to the progress of the nation itself. Only when the intellectual, political, and economic education of the nation has so far advanced as a result of free trade that its further progress would be checked and hindered by the import of foreign manufactures and the lack of a sufficient market for its own goods, can protective measures be justified.
Friedrich List
We must work our destiny in our own way and present to the world an economic system based on true Islamic concept of equality of manhood and social justice. We will thereby be fulfilling our mission as Muslims and giving to humanity the message of peace which alone can save it and secure the welfare, happiness and prosperity of mankind.
Muhammad Ali Jinnah
Whether Protection is a universal poison, or whether it may be conceived to operate as food in cases where it is granted for a few years in order to shelter the first investments in a new industry, I do not now inquire. We at least have never seen or known it in that mitigated form. With us it has sheltered nothing but the most selfish instincts of class against the just demands of the public welfare. These it has supplied with strongholds, from whose portals our producers have too generally marched forth in the day of need, armed from head to foot with power and influence largely gotten at the expense of the community, to do battle with a perverted prowess, against nature, liberty, and justice.
William Ewart Gladstone
Contrary to what you may assume, I am not a pessimist but an indifferentist-that is, I don't make the mistake of thinking that the resultant of the natural forces surrounding and governing organic life will have any connexion with the wishes or tastes of any part of that organic life-process. Pessimists are just as illogical as optimists; insomuch as both envisage the aims of mankind as unified, and as having a direct relationship (either of frustration or of fulfilment) to the inevitable flow of terrestrial motivation and events. That is-both schools retain in a vestigial way the primitive concept of a conscious teleology-of a cosmos which gives a damn one way or the other about the especial wants and ultimate welfare of mosquitos, rats, lice, dogs, men, horses, pterodactyls, trees, fungi, dodos, or other forms of biological energy.
H. P. Lovecraft
I know that my retirement will make no difference in its [my newspaper's] cardinal principles, that it will always fight for progress and reform, never tolerate injustice or corruption, always fight demagogues of all parties, never belong to any party, always oppose privileged classes and public plunderers, never lack sympathy with the poor, always remain devoted to the public welfare, never be satisfied with merely printing news, always be drastically independent, never be afraid to attack wrong, whether by predatory plutocracy or predatory poverty.
Joseph Pulitzer
We make no hypocritical pretense of being interested in the Philippines solely on account of others. While we regard the welfare of these people as a sacred trust, we regard the welfare of the American people first. We see our duty to ourselves as well as to others. We believe in trade expansion. By every legitimate means within the province of government and constitution we mean to stimulate the expansion of our trade and open new markets.
Henry Cabot Lodge
I know that some people in the U. S. associate the Nordic model with some sort of socialism... Therefore, I would like to make one thing clear. Denmark is far from a socialist planned economy. Denmark is a market economy... The Nordic model is an expanded welfare state which provides a high level of security to its citizens, but it is also a successful market economy with much freedom to pursue your dreams and live your life as you wish.
Lars Løkke Rasmussen
While economic theory in general may be defined as the theory of how an economic condition or an economic development is determined within an institutional framework, the welfare theory deals with how to judge whether one condition can be said to be better in some way than another and whether it is possible, by altering the institutional framework, to achieve a better condition than the present one.
John Hicks
Market power and externalities are examples of a general phenomenon called market failure-the inability of some unregulated markets to allocate resources efficiently. When markets fail, public policy can potentially remedy the problem and increase economic efficiency. Microeconomists devote much effort to studying when market failure is likely and what sorts of policies are best at correcting market failures. As you continue your study of economics, you will see that the tools of welfare economics developed here are readily adapted to that endeavor. Despite the possibility of market failure, the invisible hand of the marketplace is extraordinarily important.
Greg Mankiw
Recently in our country, there has been a steadily increasing number of people who dislike work and pursue leisure and extravagance. Almost everywhere individuals and organizations are fighting with resultant loss of energy that is needed for positive action. In order to save them from this situation, a principle of judo, based on the maximum efficiency concept should be applied as one aspect of modern society and as a natural result of the application of the principle of maximum efficiency, a mutual welfare and prosperity is believed to be the only effective way to ease and neutralize the forces among these individuals and organizations.
Jigoro Kano
