Category Archives: Quote for the Day!

“The Immense and Tutelary Power”

I think I quoted this passage from Alexis de Tocqueville’s Democracy in America, last year, but have enlarged the context.  Is this a description of the centralized command and control bureaucratic government that we [sic] have been creating over the past 100 years or so?  And is Tocqueville on to something?  Feel free to comment. “So I think that the type of oppression by which democratic peoples are threatened will resemble nothing of what preceded it in the world; our… Continue Reading ››

Quote of the Day (and Comment)

The relationship between virtue and institutions has been debated for many years, even centuries, by political thinkers, not to mention even clergy.  For Christians this is a particularly important issue.  To what extent can we rely on the arrangement of political and legal institutions to “check ambition” and prevent mischievous abuse of power?  Do we need virtue no matter what kind of institutions we have?  Or can we rely on our institutions (for example checks and balances, separation of powers,… Continue Reading ››

Quote for the Day

I came across an interesting quote in a new book by Nobel Prize winner in economics, Edmund Phelps.  This was in his new book entitled Mass Flourishing.  The context is a discussion of the conditions necessary for what he calls “dynamism” in an economy, or innovation and entrepreneurship.  Here it is: “The more opportunity that an idea has to be evaluated by someone who can appreciate it, the less likely it is for a good idea to be passed up… Continue Reading ››

Quote for the Day

“No beast is more savage than man, when possessed of power equal to his passion.” Josiah Quincey, Jr. (American revolutionary writer, 1770s) This captures the essence of human nature, apart from the grace of God, and operating in the political sphere.

Quote for the Day–Hayek on Socialism, and how it applies to Hobby Lobby

In light of all the recent hoopla of Executive overreach, its important to know the broader agenda of the socialist mindset–it is much more than simply “economics.”  As Hayek says in The Fatal Conceit (p. 67) So, priding itself on having built its world as if it had designed it, and blaming itself for not having designed it better, humankind is now to set out to do just that.  The aim of socialism is no less than to effect a… Continue Reading ››

Quote for the Day–John Maynard Keynes!

Whoever thought Bereansatthegate would feature a quote for the day from Lord Keynes?  Yet here we are: Lenin is said to have declared that the best way to destroy the capitalist system was to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. By this method they not only confiscate, but they confiscate arbitrarily; and, while the process impoverishes many, it actually enriches some. The… Continue Reading ››

Quote for the Day, from Allan Meltzer’s WSJ op-ed today

Allan Meltzer is perhaps the greatest living monetary economist; his A History of the Federal Reserve, is the definitive standard on the Fed.  He was a contemporary of Milton Friedman, and a noted monetarist scholar in his own right.  Discussing the Fed today, he ventures slightly off course: Broadly speaking, the Obama administration has pursued a course the opposite of that taken by the Kennedy and Johnson administrations in the 1960s (and the Reagan administration in the 1980s). Kennedy-Johnson enacted… Continue Reading ››

Quote for the Day: Hayek on the distinction between Law and Legislation

Legislation, the deliberate making of law, has justly been described as among all inventions of man the one fraught with the gravest consequences, more far-reaching in its effects even than fire and gun-powder.  Unlike law itself, which has never been ‘invented’ in the same sense, the invention of legislation came relatively late in the history of mankind. It gave into the hands of men an instrument of great power which they needed to achieve some good, but which they have… Continue Reading ››

Quote for the Day! From Henry Hazlitt

It is not merely a fallacy, therefore, but a sham humanitarianism, and a cruel deception, always to insist on wage-rate increases whether or not conditions justify them, and always to resist wage-rate reductions whether or not conditions require them. From Hazlitt’s fantastic dissection of the whole system of Keynesian fallacies, in The Failure of the “New Economics.”  This is important for us to realize as Mr. Obama continues to advocate for an increase in the minimum wage, despite high unemployment… Continue Reading ››

Quote for the Day! Michael Novak

It is not so much the asceticism of biblical teaching, as its call to creativity and inventiveness, that accounts for the dynamism of Jewish and Christian civilization, including economic dynamism. While some aspects of asceticism are certainly helpful for a culture, such as the idea of deferred gratification, what really makes civilization thrive is when we act according to our being created in the image and likeness of God.  As our God is creative, so are His children.  As He… Continue Reading ››