If you create an artificial scarcity through public policy, artificial rent so to speak - setting up a … - James M. Buchanan

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James M. Buchanan

If you create an artificial scarcity through public policy, artificial rent so to speak - setting up a new import quota or giving out a particular office that is very beneficial - people are going to invest money, time and resources in trying to secure that opportunity. If the value is created independently of the search for it, the search for it is wasted.

Office, Opportunity, People, Scarcity, Wasted

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Politicians and bureaucrats are no different from the rest of us. They will maximize their incentives just like everybody else.

Different, Incentives, Like, Maximize, Politician, Rest

Liberals have lost the soul. We haven't recognized the necessity of defending our own system at the level of ideas. We have to get people to treat the idea of a free society as a civic religion or a faith. We need to fight for that faith.

Faith, Fighting, Ideas, Level, People, System

People share a universal behavioural trait: if there are profits to be made, the effort to get that money will attract investment. This is true in the private sector, the market sector, as well as the public sector.

Effort, Investment, People, Public, Universal

We want to limit the exploitation of the fiscal capacity of the richer regions by keeping down the rate of immigration to a level that would be meaningful and efficient. One way to do that is to have a scheme of equalization which essential bribes people to stay in the poorer regions.

Equalization, Exploitation, Immigration, Keeping, Meaningful, People

How would the US be different today if people coming off the boat were greeted with a welfare check instead of a shovel?

Boat, Different, People, Today, Welfare