Austrian School Economics

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

    The war shook down the Tsardom, an unspeakable abomination, and made an end of the new German Empire and the old Apostolic Austrian one. It ... gave votes and seats in Parliament to women.... But if society can be reformed only by the accidental results of horrible catastrophes ... what hope is there for mankind in them? The war was a horror and everybody is the worse for it.
    George Bernard Shaw (1856–1950)

    It was Mabbie without the grammar school gates.
    And Mabbie was all of seven.
    And Mabbie was cut from a chocolate bar.
    And Mabbie thought life was heaven.
    Gwendolyn Brooks (b. 1917)

    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)