Best quotes by Henry Calvert Simons
Henry Calvert Simons
American economist at the University of Chicago
Henry Calvert Simons (October 9, 1899 – June 19, 1946) was an American economist at the University of Chicago. A protege of Frank Knight, his antitrust and monetarist models influenced the Chicago school of economics. He was a founding author of the Chicago plan for monetary reform that found broad support in the years following the 1930s Depression, which would have abolished the fractional-reserve banking system, which Simons viewed to be inherently unstable. This would have prevented unsecured bank credit from circulating as a "money substitute" in the financial system, and it would be replaced with money created by the government or central bank that would not be subject to bank runs.
Simons is noted for a definition of economic income, developed in common with Robert M. Haig, known as the Haig–Simons equation.
All quotes by Henry Calvert Simons:
Economics is primarily useful, both to the student and to the political leader, as a prophylactic against popular fallacies.
Private property in the instruments of production is an institutional device both for dispersing power and for securing effective organization of production. The only simple property system is that of a slave society with a single slave owner - which, significantly, is the limiting case of despotism and of monopoly. Departure from such a system is a fair measure of human progress.
The libertarian good society lies... in the maximum dispersion of property compatible with effective production or, as process, in progressive reconciliation of conflicts between equality and efficiency. Such process involves increasing dispersion both of wealth among persons and families and of proximate productional control among enterprises or firms.
Attempting mischievous and salutary irritation of his peers ... Keynes may only succeed in becoming an academic idol of our worst cranks and charlatans - not to mention the possibilities of the book as the economic bible of a fascist movement.
Economics is primarily useful, both to the student and to the political leader, as a prophylactic against popular fallacies.
Private property in the instruments of production is an institutional device both for dispersing power and for securing effective organization of production. The only simple property system is that of a slave society with a single slave owner - which, significantly, is the limiting case of despotism and of monopoly. Departure from such a system is a fair measure of human progress.
The libertarian good society lies... in the maximum dispersion of property compatible with effective production or, as process, in progressive reconciliation of conflicts between equality and efficiency. Such process involves increasing dispersion both of wealth among persons and families and of proximate productional control among enterprises or firms.
Attempting mischievous and salutary irritation of his peers ... Keynes may only succeed in becoming an academic idol of our worst cranks and charlatans - not to mention the possibilities of the book as the economic bible of a fascist movement.