Peter J. Boettke > Quotes

“There is nothing as dangerous as an economist who only knows economics except the moral philosopher who knows no economics.”
― Peter Boettke

“Economists came along after the existence of the phenomena they try to understand. In other words, economists emerged in a philosophic effort to understand an already existing practice. This point has broad implications for the nature of the discipline, even though we do not usually address then in introductory courses.”
― Peter J. Boettke, Living Economics: Yesterday, Today, and Tomorrow

“It is no crime to be ignorant of economics, which is, after all, a specialized discipline and one that most people consider to be a “dismal science.” But it is totally irresponsible to have a loud and vociferous opinion on economic subjects while remaining in this state of ignorance. —Murray N. Rothbard”
― Peter J. Boettke, Living Economics: Yesterday, Today, and Tomorrow

“Economists are not responsible for the wealth of nations, but they can be responsible for the poverty of nations. This is an ironic twist that students must come to understand. Economists err if they forget that economic life existed before them, and that it operates, for the most part, independently of them.”
― peter j. boettke, Living Economics: Yesterday, Today, and Tomorrow

“Friedrich Hayek explains in detail why in the realm of public policy it is important to insist that principle be upheld in the face of expediency. Arguments for expediency understate the true cost of public policy because they neglect the beneficial outcomes of what would have occurred under a general principle of freedom. The proposed benefits of the expedient path are concrete, but the costs are unseen.”
― Peter J. Boettke, The Four Pillars of Economic Understanding