We're all grossly ignorant about most things that we use and encounter in our daily lives, but each of us is knowledgeable about tiny, relatively inconsequential things. For example, a baker might be the best baker in town, but he's grossly ignorant about virtually all the inputs that allow him to be the best baker. What is he likely to know about what goes into the processing of the natural gas that fuels his oven? For that matter, what does he know about oven manufacture? Then, there are all the ingredients he uses -- flour, sugar, yeast, vanilla and milk. Is he likely to know how to grow wheat and sugar and how to protect the crop from diseases and pests? What is he likely to know about vanilla extraction and yeast production? Just as important is the question of how all the people who produce and deliver all these items know what he needs and when he needs them. There are literally millions of people cooperating with one another to ensure that the baker has all the necessary inputs. It's the miracle of the market and prices that gets the job done so efficiently. What's called the market is simply a collection of millions upon millions of independent decision makers not only in America but around the world. Who or what coordinates the activities all of these people? Rest assuredly it's not a bakery czar.
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Economics for the CitizenWalter E. Williams
» Walter E. Williams - all quotes »
I was operating under the theory that, even though Baker had been responsible for my appointment, I was representing all three minority senators-Baker, Edward Gurney of Florida, and Weicker. If differences arose within the minority there was no question about where my loyalty lay and whose directions I would take, but I believed that I should try to respond to the wishes of Weicker and Gurney in every way possible. (page 25)
Fred Thompson
James Baker was the only leader in America who had the guts to stand up and act against Israel's malignant disease: the settlements. When he was the Secretary of State, he simply informed the Israeli government that he would deduct the sums expended on the settlements from the money Israel was getting from the US. Threatened and made good on his threat. Baker thus confronted the "pro-Israeli" lobby in the US, both the Jewish and the Christian. Such courage is rare in the United States, as it is rare in Israel.
Uri Avnery
"Oh, what a sweet little doggie!" Mrs Baker cried out. "Is ooh hungwy, then?" She gave Waif the rest of the cake she was eating. Waif took it politely, ate it in one gulp and continued to beg. Mrs Baker gave her a whole cake from the plate. This caused Waif to beg more soulfully than ever.
"I'm disgusted," Charmain told Waif.Diana Wynne Jones
"Oh, what a sweet little doggie!" Mrs Baker cried out. "Is ooh hungwy, then?" She gave Waif the rest of the cake she was eating. Waif took it politely, ate it in one gulp and continued to beg. Mrs Baker gave her a whole cake from the plate. This caused Waif to beg more soulfully than ever.
"I'm disgusted," Charmain told Waif.Diana Wynne Jones
The wheat bought by a farmer to sow is comparatively a fixed capital to the wheat purchased by a baker to make into loaves.
David Ricardo
Williams, Walter E.
Williams, William Carlos
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