Quote by James M. Buchanan on Interest Groups and Market Economy

„Building on the public's unwillingness to act on principle in support of market solutions to apparent problems, whether real or imagined, these interest groups secure arbitrary restrictions on voluntary exchanges and, in the process, secure rents for their members while reducing both the liberties and economic well being of other members of the economic nexus, both domestically and internationally.“

James M. BuchananJames M. Buchanan describes how interest groups use market solutions to secure economic advantages and restrict freedoms.
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James M. Buchanan was an American economist and Nobel laureate, known for his work on public choice theory.

This passage critically describes how interest groups can enforce economic advantages at the expense of the general public.


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James M. Buchanan quote about interest groups, market solutions, voluntary exchanges, and economic liberty

James M. Buchanan (1919–2013) was an American economist best known for developing public choice theory, analyzing political behavior using economic principles. He was awarded the Nobel Prize in Economic Sciences in 1986.

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"If you create an artificial scarcity through public policy, artificial rent so to speak - setting up a new import quota or giving out a particular office that is very beneficial - people are going to invest money, time and resources in trying to secure that opportunity. If the value is created independently of the search for it, the search for it is wasted." James M. Buchanan
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Murray Rothbard quote about big business, government intervention, subsidies, and free marketsCopyright © yoice.net – Quote Artwork
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"While big-business leaders and firms can be highly productive, servants of consumers in a free market economy, they are also all too often, seekers after subsidies, contracts, privileges, or cartels furnished by big government. Often, business lobbyists and leaders are the sparkplugs for the statist, interventionist system." Murray Rothbard
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Inspirational quote image about markets, freedom, and individual self-interest by Harry BrowneCopyright © yoice.net – Quote Artwork
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"The marketplace is a wondrous institution. It harnesses the self-interest of each of us and puts it to work for the benefit of all. And it does so without intruding upon our desires, our privacy, or our freedom. It is regulation by reality, not by coercion." Harry Browne
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Milton Friedman quote about business corporations and free enterpriseCopyright © yoice.net – Quote Artwork
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"Business corporations in general are not defenders of free enterprise. On the contrary, they are one of the chief sources of danger....Every businessman is in favor of freedom for everybody else, but when it comes to himself that's a different question. We have to have that tariff to protect us against competition from abroad. We have to have that special provision in the tax code. We have to have that subsidy." Milton Friedman
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