William Baumol
William Baumol

How much do you think it costs to go to college? Most people are likely to answer by adding together their expenditures on tuition, room and board, books, and the like, and then deducting any scholarship funds they may receive. Suppose that amount comes to $15,000.
Economists keep score differently. They first want to know how much you would be earning if you were not attending college. Suppose

that salary is $20,000 per year. This may seem irrelevant, but because you give up these earnings by attending college, they must be added to your tuition bill. You have that much less income because of your education. On the other side of the ledger, economists would not count all of the university’s bill for room and board as part of the costs of your education. They would want to know how

much more it costs you to live at school rather than at home. Economists would count only these extra costs as an educational expense because you would have incurred these costs whether or not you attend college. On balance, college is probably costing you much more than you think. And, as we will see later, taking opportunity cost into account in any personal planning will help you to make more

rational decisions.

William Bernstein
William Bernstein

In fact, the nation's biggest investment pools are the retirement funds of the large corporations and governmental bodies, such as the California Public Employees Retirement System (CALPERS), which manages an astounding $170 billion. These plans receive a level of professional management that even the nations wealthiest investors can only dream of.

Rupert Boneham
Rupert Boneham

Politicians often talk about creating jobs” as though they can magically invent them from thin air. A government job” or a job subsidized by government funds requires the salary for that position to be drained out of the private sector through taxes. Moving wealth from one place to another is not actually 'creating' anything.

Kenneth E. Boulding
Kenneth E. Boulding

In modern industry, research
Has come to be a kind of Church
Where rubber-aproned acolytes
Perform their Scientific Rites
And firms spend funds they do not hafter
In hope of benefits Hereafter.

Alfred Chandler
Alfred Chandler

The market remained the generator of demand for goods and services, but modern business enterprise took over the functions of coordinating flows of goods and services through existing processes of production and distribution, and of allocating funds and personnel for future production and distribution. As modern business enterprise acquired functions hitherto carried out by the market, it became

the most powerful institution in the American economy and its managers the most influential group of economic decision makers. The rise of modern business enterprise in the United States, therefore, brought with it managerial capitalism.

Grover Cleveland
Grover Cleveland

I feel obliged to withhold my approval of the plan, as proposed by this bill, to indulge a benevolent and charitable sentiment through the appropriation of public funds for that purpose. I can find no warrant for such an appropriation in the Constitution, and I do not believe that the power and duty of the general government ought to be extended to the relief of individual suffering which is in no

manner properly related to the public service or benefit. A prevalent tendency to disregard the limited mission of this power and duty should, I think, be steadfastly resisted, to the end that the lesson should be constantly enforced that, though the people support the government, the government should not support the people. The friendliness and charity of our countrymen can always be relied upon

to relieve their fellow-citizens in misfortune. This has been repeatedly and quite lately demonstrated. Federal aid in such cases encourages the expectation of paternal care on the part of the government and weakens the sturdiness of our national character, while it prevents the indulgence among our people of that kindly sentiment and conduct which strengthens the bonds of a common brotherhood.

Hillary Clinton
Hillary Clinton

A big part of our plan will be unleashing the power of the private sector to create more jobs at higher pay. And that means for us, creating an infrastructure bank to get private funds off the sidelines and complement our private investments.

Hillary Clinton
Hillary Clinton

On their own, new technologies do not take sides in the struggle for freedom and progress, but the United States does. We stand for a single internet where all of humanity has equal access to knowledge and ideas. […] The internet can help bridge divides between people of different faiths. As the President said in Cairo, freedom of religion is central to the ability of people to live together.

And as we look for ways to expand dialogue, the internet holds out such tremendous promise. […] We are also supporting the development of new tools that enable citizens to exercise their rights of free expression by circumventing politically motivated censorship. We are providing funds to groups around the world to make sure that those tools get to the people who need them in local languages,

and with the training they need to access the internet safely. The United States has been assisting in these efforts for some time, with a focus on implementing these programs as efficiently and effectively as possible. Both the American people and nations that censor the internet should understand that our government is committed to helping promote internet freedom. We want to put these tools in

the hands of people who will use them to advance democracy and human rights, to fight climate change and epidemics, to build global support for President Obama's goal of a world without nuclear weapons, to encourage sustainable economic development that lifts the people at the bottom up.

John Duke Coleridge
John Duke Coleridge

Fellows of colleges in the universities are in one sense the recipients of alms, because they receive funds which originally were of an eleemosynary character.

Richard Cyert
Richard Cyert

In general, success tends to breed slack. One of the main consequences of slack is a muting of problems of resource scarcity. Slack provides a source of funds for innovations that would not be approved in the case of scarcity but that have strong subgroup support.