Author: Redactor

The Inca’s way of dealing with his whole empire seems not to have differed from his conduct in setting up his capital. His procedure there too was marked by the elaboration of a rational program, its execution by authoritarian decree, and finally the laying down of regulations designed to prevent any occasion of disturbance and to render the organization definite and permanent. Naturally, this system, so logical in its plan, was bound to encounter obstacles in adapting itself to realities.

Louis Baudin, A Socialist Empire: The Incas of Peru.

“It is not the astronomer’s business to consider whether it would be better if the sun were nearer or farther from the earth, or if he turned round her, instead of turning round him. Nor is it the chemist’s business to consider whether carbonic acid and carbonic oxide are noxious gases that ought not to exist. It has never been thought desirable to make Newton responsible for tiles falling on the people’s heads.

“Economists, however, are held answerable for the laws which they discover.”

A common mistake is that the conclusions of the plain unlettered man differ from those of economists in being more immediately founded on observed facts and less on deduction. The truth is that the plain unlettered man is more prone to rely on deduction from unproved hypotheses than the economist is. All classes must equally use deduction, because it is only by this logical process that we form any conclusion about the future effect of any present cause. Drawing the conclusion that rain will follow a certain direction of the wind with certain appearances of the clouds is an act of logical deduction. The main point in which men’s logical methods differ lies in the care with which hypotheses are formed by induction from observed facts, and the readiness of men to test them. Now it is the plain man who is most prone to form hasty generalizations from insufficient facts, to consider the conclusions which he thence deduces as final, and to be blind to all facts which do not tally with his theory.

Simon Newcomb, Principles of Political Economy, 1886, p. 40.

If you try to lessen or restrict competition for your private benefit, you are not denying the truth of an economic law; you are only trying to turn it to your own advantage.