Understanding Means Seeing The Unseen

Frederic Bastiat,

Understanding Means Seeing  The Unseen

There is only one difference  between a bad economist and a good  one: the bad economist confines  himself to the visible effect; the  good economist takes into account  both the effect that can be seen and  those effects that must be foreseen.

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In Search Of History

When America Was Truly The Land Of Opportunity

For [early immigrants] America was truly the land of opportunity. For the first time in their lives, many were truly free to pursue their own objectives. That freedom released the human energies which created the United States. There were few government programs to turn to and nobody expected them. But also there were few rules and regulations. There were no licenses, no permits, no red tape to restrict them. They found, in fact, a free market, and most of them thrived on it. 

-- Milton Friedman,

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