W. Ken Farr, Professor of Economics         
433 Atkinson Hall
Department of Economics & Finance         
Milledgeville, Georgia 31061
Georgia College & State University          
 478.445.4210
                                                                                          


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“The worth of the state, in the long run, is the worth of the individuals composing it” John Stuart Mill

“The only purpose for which power can be rightfully exercised over any member of a civilized community against his will is to prevent harm to others.”  John Stuart Mill

“The first lesson of economics is scarcity: There is never enough of anything to satisfy all those who want it. The first lesson of politics is to disregard the first lesson of economics.”
 
Thomas Sowell

                         Alfred Marshall   

"Economics:  The study of mankind in the ordinary business of life; it examines that part of individual and social action which is most closely connected with the attainment and with the use of the material requisites of wellbeing."  (circa 1920)

"No man's life, liberty, or property is safe while the legislature is in session."  Judge Gideon Tucker (1866)

"Think things, not words." In words, many see a need for "social justice" to override "the dictates of the market." In reality, what is called "the market" consists of human beings making their own choices at their own cost. What is called "social justice" is government imposition of the notions of third parties, who pay no price for being wrong.

Oliver Wendell Holmes


"A society that puts equality -- in the sense of equality of outcome -- ahead of freedom will end up with neither equality nor freedom. The use of force to achieve equality will destroy freedom, and the force, introduced for good purposes, will end up in the hands of people who use it to promote their own interests."
 

Milton Friedman

Adam Smith

Learn more about some of  history's most influential economists

"The study of economics won't keep you out of the breadline; but at least you'll know why you are there." 

  Frank Ward (circa 1940)

 
In a free country people are free to do anything not expressly prohibited by law or the constitution.

 

"We shall not grow wiser before we learn that much that we have done was very foolish."

 F.A. Hayek



Last updated on August 15, 2014