“Moral: free markets do not stabilize themselves. Zero regulating is vastly suboptimal to rational regulating. Libertarianism is its own worst enemy!”

— Paul A. Samuelson

New millennium, An Enjoyable Life Puzzling Over Modern Finance Theory, 2009

Adopted from Wikiquote. Last update June 3, 2021. History

Help us to complete the source, original and additional information

Do you have more details about the quote "Moral: free markets do not stabilize themselves. Zero regulating is vastly suboptimal to rational regulating. Libertari…" by Paul A. Samuelson?

Paul A. Samuelson photo

Paul A. Samuelson 47

American economist 1915–2009

Related quotes

“Markets are not perfect, which is true even for rationally regulated markets. Nevertheless, over the last thousand years every attempt to organize sizeable societies without important dependence on markets has generated its own failure …”

Paul A. Samuelson (1915–2009) American economist

New millennium, An Enjoyable Life Puzzling Over Modern Finance Theory, 2009

“Clearly, if it is possible to have a self-regulating system that implicitly arranges its own stability, then this is of the keenest management interest.”

Anthony Stafford Beer (1926–2002) British theorist, consultant, and professor

Source: Management Science (1968), Chapter 6, The Viable Governor, p. 154.

“It's not a third way between state capitalism and free markets, it is the free market way. Multi-national corporations should be the principal actors, but they should be properly regulated.”

Ian Bremmer (1969) American political scientist

"The West Should Fear the Growth of State Capitalism," http://www.telegraph.co.uk/finance/economics/7883061/The-West-should-fear-the-growth-of-state-capitalism-Ian-Bremmer.html The Daily Telegraph (July 10, 2010).

“Corruption is government intrusion into market efficiencies in the form of regulations.”

Milton Friedman (1912–2006) American economist, statistician, and writer

Frequently misattributed to Milton Friedman based on a monologue from the 2005 movie Syriana
Misattributed

“By ignoring and evading rather than altogether abolishing obsolete rules and regulations, eighteenth century Britain moved slowly toward a free market society.”

Joel Mokyr (1946) Israeli American economic historian

Source: The Enlightened Economy: Britain and the Industrial Revolution, 1700–1850. 2010, p. 397

“The vital energies regulate themselves naturally without compulsive duty or compulsive morality — both of which are sure signs of existing antisocial impulses.”

Wilhelm Reich (1897–1957) Austrian-American psychoanalyst

General Survey
The Function of the Orgasm (1927)

“Libertarian philosophy lowers the logical and evidentiary standards for libertarian social science: if one believes that redistribution and regulation are immoral anyway because they violate self-ownership rights, then it is understandable that one would have a cavalier attitude about proving that redistribution and regulation cause unhappiness or “disorder,” or that they always serve the venal interests of politicians and bureaucrats. The orthodox libertarian schema implies that these consequentialist arguments are superfluous.”

Jeffrey Friedman (political scientist) (1959) American political scientist

Source: “What’s wrong with Libertarianism”, p. 445

“What then is it that, since 2007, has caused Wall Street capitalism's own suicide? At the bottom of this worst financial mess in a century is this: Milton Friedman-Friedrich Hayek libertarian laissez-faire capitalism, permitted to run wild without regulation. This is the root source of today's travails. Both of these men are dead, but their poisoned legacies live on.”

Paul A. Samuelson (1915–2009) American economist

Farewell to Friedman-Hayek Libertarian Capitalism (2008)
New millennium

“Market economy implies a self-regulating system of markets; in slightly more technical terms, it is an economy directed by market prices and nothing but market prices.”

Karl Polanyi book The Great Transformation

The Great Transformation (1944), Ch. 4 : Societies and Economic Systems

“It is the privilege of a trader in a free country, in all matters not contrary to law, to regulate his own mode of carrying it on according to his own discretion and choice.”

Edward Hall Alderson (1787–1857) Lawyer and jurist

Hilton v. Eckersley (1856), 6 Ellis &B. 74.

Related topics