Because we can expect future generations to be richer than we are, no matter what we do about resources, asking us to refrain from using resources now so that future generations can have them later is like asking the poor to make gifts to the rich.

Julian Simon

Categorized in : Asking Generations Using Resources

Friedrich Hayek, who died on March 23, 1992 at age 92, was arguably the greatest social scientist of the twentieth century. By the time of his death, his fundamental way of thought had supplanted the system of John Maynard Keynes - his chief intellectual rival of the century - in the battle since the 1930s for the minds of economists and the policies of governments.

government intellectual mind

People call me an optimist, but I'm really an appreciator ... years ago, I was cured of a badly infected finger with antibiotics when once my doctor could have recommended only a hot water soak or, eventually, surgery.... When I was six years old and had scarlet fever, the first of the miracle drugs, sulfanilamide, saved my life. I'm grateful for computers and photocopiers ... I appreciate where we've come from.

doctors grateful years

Not understanding the process of a spontaneously-ordered economy goes hand-in-hand with not understanding the creation of resources and wealth.

wealth understanding hands

All of us necessarily hold many casual opinions that are ludicrously wrong simply because life is far too short for us to think through even a small fraction of the topics that we come across.

topics opinion thinking