In my youth it was said that what was too silly to be said may be sung. In modern economics it may be put into mathematics.

If you torture the data long enough, it will confess.

Existing economics is a theoretical system which floats in the air and which bears little relation to what happens in the real world.

Outside the firm, price movements direct production, which is co-ordinated through a series of exchange transactions on the market. Within a firm, these market transactions are eliminated and in place of the complicated market structure with exchange transactions is substituted the entrepreneur-co-ordinator, who directs production.

In fact, a large part of what we think of as economic activity is designed to accomplish what high transaction costs would otherwise prevent or to reduce transaction costs so that individuals can negotiate freely and we can take advantage of that diffused knowledge of which Friedrich Hayek has told us.

Data can't speak for itself; it's up to you to give it a voice. Try to speak truthfully.

We must first note that economic factors are taken into account in a world in which ignorance, prejudice, and mental confusion, encouraged rather than dispelled by the political organization, exert a strong influence on policy making.