Universal Economics Quotes

“A right of free speech is not an “economically free” right. It uses scarce resources.”
― Armen A. Alchian, Universal Economics

“I’ll do this for you if you’ll do that for me—at better terms than someone else.” Though competing, we also cooperate—in the market, in the family, in firms, and in governments. We cooperate to make the “pie” larger; we compete over how much of the pie each of us gets.”
― Armen A. Alchian, Universal Economics

“The “dead hand of the past” is not allowed to overrule the “invisible hand” of future generations’ market values.”
― Armen A. Alchian, Universal Economics

“Choice is merely another name for discrimination—to rank alternatives according to some attribute. It is not discrimination that is condemned, but “invidious” discrimination—by whatever criteria enough people consider undesirable—such as religion, nationality, and gender.”
― Armen A. Alchian, Universal Economics

“two apparent devils restrict what you can have - the limited amounts of goods and services available, and the rest of us who also want them.”
― Armen A. Alchian, Universal Economics

“To say something “may” or “might” or “could” happen is empty, useless, irrefutable—and worthless! “Could, may, or might” statements permit anything—not what will or will not happen. The”
― Armen A. Alchian, Universal Economics

“Private property rights contain three key features: (1) the right to make decisions about the physical1 conditions and uses of specified goods, (2) the right to sell the rights of ownership to other people, and (3) the right to enjoy the resulting income and to bear the loss of the use decision.”
― Armen A. Alchian, Universal Economics

“Scarcity exists because of our boundless desires for limited goods of all kinds and types.”
― Armen A. Alchian, Universal Economics

“Motivating nearly all behavior is the inevitable existence of “scarcity”—simply put, our wants and desires exceed what is available to satisfy them.”
― Armen A. Alchian, Universal Economics

“Since the discouraging fiasco in the Garden of Eden, all the world has been a place conspicuous in its scarcity of resources, contributing heavily to an abundance of various sorrows and sins.”
― Armen A. Alchian, Universal Economics