Donald J. Boudreaux
Economists’ Meaning of “Consumption”
“Because ‘to produce’ means ‘to increase humans’ opportunities to consume,’ Adam Smith is correct: consumption is indeed the sole end and purpose of all production.” ~ Donald J. Boudreaux
Signs of Hope
“The happy reality that entrepreneurship and bourgeois commerce continue to flourish was driven home to me by my rather unremarkable remodeling project. I have reason for optimism.” ~ Donald J. Boudreaux
Do Not Tarry In Eliminating Tariffs and Other Protectionist Measures
“Like Adam Smith, I’d prefer that trade be liberalized gradually as opposed to not at all. But perhaps unlike him, if I were put in front of a button to eliminate immediately all species of economic protectionism, I’d press it with gusto.” ~ Donald J. Boudreaux
Some Buttons That I’d Not Push, and Some That I Would Push
“There are, undoubtedly, still other unwise government interventions that I would wish to eliminate, but that I would also not willingly push a button to eliminate immediately. But there are buttons I would push.” ~ Donald J. Boudreaux
The Amazing Cargo Ship
“Like the trade that’s carried out using cargo ships, all trade – from the simplest to the most complex – works wonders. Trade allows each of us to turn our unique talents into the fruits of the talents of everyone with whom we trade.” ~ Donald J. Boudreaux
On Jobs
“When consumers’ tastes change, only entrepreneurs can successfully discover – in competition with each other – how to reallocate resources in ways that don’t result in a decline in living standards.” ~ Donald J. Boudreaux
The Childishness of Wokeism
“Like children, the woke’s understanding of the society they inhabit is defective. Unfortunately, unlike children, they occupy prominent places in the media, in the academy, and in officialdom.” ~ Donald J. Boudreaux
An Economics Pop Quiz
“Here’s a pop quiz. Some questions are conceptual, others ask about particular facts. The correct answers are supplied at the end. (But don’t cheat by peeking beforehand at the answers!) Good luck!” ~ Donald J. Boudreaux
Be Grateful that First Responders and Teachers Earn Far Lower Incomes Than Sports Stars and Hollywood Actors
“The fact that first responders and teachers are paid so little relative to professional athletes and Hollywood stars is a feature of our world and economy; it’s not a bug. This reality deserves our gratitude.” ~ Donald J. Boudreaux
Choosing to Remain in the Global Market Economy
“People who have actually experienced the ‘security’ that comes from insulation from market forces understand that the price they pay for this ‘security’ is far too high.” ~ Donald J. Boudreaux
