"It is impossible to understand the history of economic thought if one does not pay attention to the fact that economics as such is a challenge to the conceit of those in power. An economist can never be a favorite of autocrats and demagogues. With them he is always the mischief-maker, and the more they are inwardly convinced that his objections are well-founded, the more they hate him."
by:
Ludwig von Mises
(1881-1973) Economist and social philosopher
Source:
Human Action. A Treatise on Economics (1949), Third Revised Edition (San Francisco: Fox & Wilkes, 1963), p. 67
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Reader comments about this quote:
 -- Anonymous, Reston, VA US      
I love the part of the quote that says: "economics ... is a challenge to the conceit of those in power" WOW, does that paint a thousand pictures.
 -- Mike, Norwalk     
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    Telling it like it is.
     -- E Archer, NYC     
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