Economics
- Laissez-faire, an economic environment in which the government limits itself to enforcing private property rights and transactions between private parties are free from tariffs, government subsidies, and enforced monopolies
- Neoliberalism, a contemporary free-market political-economic philosophy
- Ordoliberalism, a German variant of neoliberalism that emphasises the need for the state to ensure that the free market produces results close to its theoretical potential
Read more about this topic: Liberal
Famous quotes containing the word economics:
“Women’s battle for financial equality has barely been joined, much less won. Society still traditionally assigns to woman the role of money-handler rather than money-maker, and our assigned specialty is far more likely to be home economics than financial economics.”
—Paula Nelson (b. 1945)
“There is no such thing as a free lunch.”
—Anonymous.
An axiom from economics popular in the 1960s, the words have no known source, though have been dated to the 1840s, when they were used in saloons where snacks were offered to customers. Ascribed to an Italian immigrant outside Grand Central Station, New York, in Alistair Cooke’s America (epilogue, 1973)
“The animals that depend on instinct have an inherent knowledge of the laws of economics and of how to apply them; Man, with his powers of reason, has reduced economics to the level of a farce which is at once funnier and more tragic than Tobacco Road.”
—James Thurber (1894–1961)