About Quote by Tyler Cowen

“Economic institutions that create incentives for economic progress may simultaneously redistribute income and power in such a way that a predatory dictator and others…

— Daron Acemoğlu

If you go back to Adam Smith, you find the idea that markets and market forces operate as an invisible hand. This is the…

— Michael Sandel

“Economic institutions shape economic incentives: the incentives to become educated, to save and invest, to innovate and adopt new technologies, and so on. It…

— Daron Acemoğlu

Too little attention is paid to the dark side of incentives. They are anything but a magic bullet. Psychologists have known this for years,…

— Barry Schwartz

“Economics is more than just a way to see patterns or to unravel puzzling anomalies. Its fundamental concern is with the material standard of…

— Thomas Sowell

When you rely on incentives, you undermine virtues. Then when you discover that you actually need people who want to do the right thing,…

— Barry Schwartz

“The economists exploded the old tenets: that it is unfair and unjust to outdo a competitor by producing better and cheaper goods; that it…

— Ludwig von Mises

The market, if it can be kept honest and competitive, does provide very strong incentives for work effort and productive contributions. In their absence,…

— Arthur Melvin Okun

I think almost every economist would agree that government gets itself in trouble when it tries to interfere with voluntary behavior.

— Milton Friedman

Countries were told they had no incentives because of social ownership. The solution was privatization and profit, profit, profit. Privatization would replace inefficient state…

— Joseph Stiglitz

Most of economics can be summarized in four words: 'People respond to incentives.' The rest is commentary.

— Steven Landsburg

By its nature, governments and taxes are not voluntary. Government actions are violent and coercive, and theft as well.

— Jeff Berwick