Quotes About Consequences

Economics is a study of cause-and-effect relationships in an economy. It's purpose is to discern the consequences of various ways of allocating resources which have alternative uses. It has nothing to say about philosophy or values, anymore than it has to say about music or literature.

You cannot take any people, of any color, and exempt them from the requirements of civilization -- including work, behavioral standards, personal responsibility and all the other basic things that the clever intelligentsia disdain -- without ruinous consequences to them and to society at large.

Perhaps the most important thing about risk is its inescapability. Particular individuals, groups, or institutions may be sheltered from risk - but only at the cost of having someone else bear that risk. For a society as a whole, there is no someone else.

Nada es más fácil que tener buenas intenciones. Pero cuando no se entiende cómo funciona una economía, las buenas intenciones pueden llevar a consecuencias desastrosas

People will forgive you for being wrong, but they will never forgive you for being right—especially if events prove you right while proving them wrong.

One of the ways of understanding the consequences of economic decisions is to look at them in terms of the incentives they create, rather than simply the goals they pursue.

In its pursuit of justice for a segment of society, in disregard of the consequences for society as a whole, what is called "social justice" might more accurately be called anti-social justice, since what consistently gets ignored or dismissed are precisely the costs to society.

While those with the vision of the anointed emphasize the knowledge and resources available to promote the various policy programs they favor, those with the tragic vision of the human condition emphasize that these resources are taken from other uses ("there is no free lunch") and that the knowledge and wisdom required to run ambitious social programs far exceed what any human being has ever possessed, as the unintended negative consequences of such programs repeatedly demonstrate.

The question as to whether flesh-and-blood people of indigenous ancestry today would have been better off had the Europeans not invaded can scarcely be asked, much less answered, because most flesh-and-blood contemporary American Indians would not exist if the Europeans had not invaded, since they are of European as well as indigenous ancestry. Nature is remarkably uncooperative with our moral categories. There is no way to unscramble an egg.

Only after that political support is strong enough to cause fallacious ideas to become government policies and programs are the missing or ignored factors likely to lead to "unintended consequences," a phrase often heard in the wake of economic or social policy disasters.

Activism is a way for useless people to feel important, even if the consequences of their activism are counterproductive for those they claim to be helping and damaging to the fabric of society as a whole

Perhaps the most detrimental consequences of the implicit assumption of zero-sum transactions have been in poor countries that have kept out foreign trade and foreign investments, in order to avoid being "exploited.

The community as a whole is better off or worse off according to whether or not the next generation is raised under circumstances that are more likely to produce productive citizens rather than parasites and criminals. Indeed, the less fortunate are the hardest hit by the consequences when social standards are compromise or jettisoned for the sake of cosmic concepts of equality.

It is so easy to be wrong—and to persist in being wrong—when the costs of being wrong are paid by others.

After the Dunbar alumni lost in the courts, the original Dunbar High School building was demolished. It was one of many triumphs of the ghetto culture across the country in the second half of the twentieth century, with consequences that spread far beyond educational institutions.

That decades had to pass before a mistake with obvious negative consequences began to be corrected is one sign of the problems of decisions by third parties who pay no price for being wrong.

Railroads, in turn, were revolutionary in their social consequences. The concentrations of the world's populations along coasts and near rivers was reduced, as land transport into interior hinterlands became cheaper.

millions of people died in the war "to make the world safe for democracy"—a war that led to autocratic dynasties being replaced by totalitarian dictatorships that slaughtered far more of their own people than the dynasties had?

Bajo un gobierno electo popularmente, los incentivos políticos son hacer lo que es popular, a pesar de sus posibles consecuencias negativas, o hacer algo tan popular como sea posible

How can this be, when the whole purpose of rent control is to keep rents down? First of all, the purpose of any policy tells you absolutely nothing about what will actually happen under that policy. Too many disastrous laws get passed because those who pass them win political points for their good intentions and nobody bothers to check up later to see what actually happened.

The historic consequences of treating particular beliefs as sacred dogmas, beyond the reach of evidence or logic, should be enough to dissuade us from going down that road again—despite how exciting or emotionally satisfying political dogmas and the crusades resulting from those dogmas can be, or how convenient in sparing us the drudgery and discomfort of having to think through our own beliefs or test them against facts.

Economists who looked at the real consequences of a centrally planned economy came to a very different conclusion: that there are too many economic relationships, and it is impossible to take them all into account and carefully coordinate them.

Since democratic elections are always held in the short term, politicians have every incentive to extract as much wealth as possible from the fixed capital under their jurisdiction, whether through taxes, the imposition of charges on property or of the expropriation. Only public awareness of the long-term consequences can limit this form of exploitation.

In summary, a policy intended to make housing more affordable for the poor has resulted in resources being redirected to the construction of houses that are only affordable for the rich or wealthy, since generally , luxury homes are not subject to rent control, and neither are office buildings and other commercial properties. This illustrates, among other things, the crucial importance of making a distinction between intentions and consequences