Mark Skousen Quotes
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In my book, 'The Big Three in Economics,' I found that the press has frequently and prematurely written the obituary of Adam Smith and his free-market philosophy, only to see a new and more vibrant global marketplace reemerge after being savagely attacked by Keynesians, Marxists, and assorted socialists.
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Our society does not give nearly enough credit to business leaders who create jobs, behave ethically and provide products and services that enhance our lives.
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I only have disdain for New York City Mayor Michael Bloomberg. He raised taxes and has increased regulations. What else is new? He's a bully who wants to micro-manage people's lives by mandate, not persuasion.
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Since the 1970s, I've been a big fan of attending conferences as a great way to learn, network, socialize and enjoy a new environment. It's always refreshing to get out and see a whole new world.
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Banking technology has made it simple and efficient to invest in good causes.
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The fundamental flaw in Social Security and Medicare is that they violate the 'welfare principle' in economics. The welfare principle forms the fundamental basis of all charitable work in churches and other private organizations: assist those who need help, and equally important, don't assist individuals who can take care of themselves.
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The true principle of taxation is the benefit principle - those who benefit from a government service should pay for it. It's also known as the 'user pay' principle. Every effort should be made to link the payment of taxes or fees to the cost associated with the government service.
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Market capitalism survived and prospered after the boom-bust industrial revolution of the 19th century, and the Great Depression and world wars of the 20th century. It will recover from the financial panic of 2008-09 and Obamanomics.
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Millions of Americans were duped by the federal government and the Federal Reserve into buying homes they could not afford and failed to count the cost. When the financial crisis of 2008 hit, they could not keep up the monthly mortgage payments and defaulted.
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Who uses funds more productively - private citizens or the government? I dare say that Warren Buffett can use his surplus funds more effectively in private business and creating jobs than the government can.
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In the early 1980s, I burned my Social Security card at the New Orleans Investment Conference in protest of the state pension system.
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Bill Gates and Warren Buffett have their 'Giving Pledge,' where billionaires promise to give away the majority of their wealth when they die. My Social Security Pledge is better - to give money to good causes when you are alive. Besides, more Americans can participate.
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Lawmakers who interfere with commerce and the normal creation of jobs in an economy run the risk of doing harm rather than good. Unintended consequences from regulating or legislating to achieve a goal can occur and cause havoc in the markets or an economy.
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Remember, gold and silver always have had value and never have gone to zero. Can you say the same for stocks and bonds?
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Bitcoin is not an actual physical coin, and if computers are shut down, you can't buy or sell them. That's why nothing will ever replace gold and silver coins themselves, and all investors should have them at home or in a safe deposit box.
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We should not forget the principles of Christian mercy and justice: to welcome back those who are repentant and need our assistance, while encouraging the faithful to endure to the end.
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It is business that generates the jobs, income and taxes that keep a country going.
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The triumph of persuasion over force is the sign of a civilized society.
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Fraud is common when you give away billions. Fraud related to Hurricane Katrina spending is estimated to top $2 billion. In addition, debit cards provided to hurricane victims were used to pay for Caribbean vacations, NFL tickets, Dom Perignon champagne, 'Girls Gone Wild' videos, and at least one sex change operation.
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The U.S. Constitution was meant to be universal, not just something that only America would observe. The principle of defending liberty for all people ideally should apply everywhere in the world.
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I find it ironic how New York City Mayor Mike Bloomberg is so focused on such small issues as drink sizes, while ignoring the massive infrastructure challenges in New York - lousy roads, third-world airports, traffic jams, etc.
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All workers, whether they are employed in the private or public sector, should avoid living 'paycheck to paycheck.' Studies show that every household wastes 10% or more of its salary or income on unnecessary expenditures or by not taking the time to shop for better prices. It's all a matter of proper budgeting.
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If you are wealthy enough, use part or all of your Social Security proceeds to invest in a favorite cause or two. Invest 10 percent or 100 percent of your monthly Social Security check in your favorite charity, foundation, think tank, church or synagogue, or other good cause.
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I've felt for some time that economics needs to be taught differently by economists who actually have had experience making a payroll or investing on Wall Street. When economics is taught by pure academics, watch out.