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Much theoretical work, of course, focuses on existing economic institutions. The theorist wants to explain or forecast the economic or social outcomes that these institutions generate.

I studied what principles under-laid peace and prosperity and concluded the only way to achieve societal well-being was through a system of economic freedom.

We propose in the following Treatise to give an outline of the Science which treats of the Nature, the Production, and the Distribution of Wealth. To that Science we give the name of Political Economy.

The eighteenth century discovery that, in an institutional framework that facilitates voluntary exchanges among individuals, this process generates results that might be evaluated positively, produced 'economics,' as an independent academic discipline or science.

Economy is the basis of society. When the economy is stable, society develops. The ideal economy combines the spiritual and the material, and the best commodities to trade in are sincerity and love.

Our society is intertwined with the economy that we've built, which is a fantastically complex system. I hope that my writing about it might do some good, but that's not why I do it.

We created the hierarchical, pyramidal, managerial system because we needed it to keep track of people and things people did; with the computer to keep track, we can restructure our institutions horizontally.

What I'm asking for is a new economic order. I don't know how to construct that; I'm not an economist.

Many writers upon the science of political economy have declared that it is the duty of a nation first to encourage the creation of wealth; and second, to direct and control its distribution. All such theories are delusive.