Principium Volume III, Book 12, Quote 1277, 1283, and 1292

1277. (2-8-2011) What competition actually means is simply the freedom of the individual to ‘deal’ with any and all other individuals and to select the best terms as judged by himself, among those offered.

- Frank H. Knight – The Meaning of Freedom

1283. (2-10-2011) Yet all that is really needed to remedy the situation is a return to the principles of the rule of law and to their consistent application by legislative and executive authorities. This path is still blocked, however, by the most fatuous of all fashionable arguments, namely, that “we cannot turn the clock back.” One cannot help wondering whether those who habitually use this cliché are aware that it expresses the fatalistic belief that we cannot learn from our mistakes, the most abject admission that we are incapable of using our intelligence….There is only one such principle that can preserve a free society: namely, the strict prevention of all coercion except in the enforcement of general abstract rules equally applicable to all.

- Friedrich A. Hayek – The Constitution of Liberty, 1960

1292. (2-17-2011) (Regarding progressive taxation- the idea that the greater your income becomes, the higher income taxes you pay.)ATJ The moment you abandon the cardinal principle of exacting from all individuals the same proportion of their income or of their property, you are at sea without rudder or compass, and there is no amount of injustice and folly you may not commit.

-John Ramsey McCulloch, 1789-1864 –On the Complaints and Proposals Regarding Taxation, 1833

1 view0 comments

Recent Posts

See All

1331. (3-3-2011) (The book “On Power” is going to be much more cerebral and feel abstract, but lend your mental faculties to it and bits of truth begin to come. Like the leaks in a dam, dike, or levy,