Austrian School Economics

Famous quotes containing the words austrian, school and/or economics:

    An Austrian army, awfully array’d,
    Boldly by battery besiege Belgrade;
    Cossack commanders cannonading come,
    Deal devastation’s dire destructive doom;
    Alaric Alexander Watts (1797–1864)

    When we were at school we were taught to sing the songs of the Europeans. How many of us were taught the songs of the Wanyamwezi or of the Wahehe? Many of us have learnt to dance the rumba, or the cha cha, to rock and roll and to twist and even to dance the waltz and foxtrot. But how many of us can dance, or have even heard of the gombe sugu, the mangala, nyang’umumi, kiduo, or lele mama?
    Julius K. Nyerere (b. 1922)

    There is no such thing as a free lunch.
    —Anonymous.

    An axiom from economics popular in the 1960s, the words have no known source, though have been dated to the 1840s, when they were used in saloons where snacks were offered to customers. Ascribed to an Italian immigrant outside Grand Central Station, New York, in Alistair Cooke’s America (epilogue, 1973)