QOTD - Greg Mankiw

"Trickle-down" is not a theory but a pejorative used by those on the left to describe a viewpoint they oppose.

http://gregmankiw.blogspot.com/2013/11/the-popes-rhetoric.html

That Henry Ford story you heard was bunk

The reason for the pay rise was not as some of our contemporaries seem to think it was. It was nothing at all to do with creating a workforce that could afford to buy the products. It was to cut the turnover and training time of the labour force: for, yes, in certain circumstances, raising wages can reduce total labour costs.

Tim Worstall in Forbes

QOTD - Brad Lomborg in the WSJ

Subsidizing first-generation, inefficient green energy might make well-off people feel good about themselves, but it won't transform the energy market.

Green-energy initiatives must focus on innovations, making new generations of technology work better and cost less. This will eventually power the world in a cleaner and cheaper way than fossil fuels. That effort isn't aided by the perpetuation of myths.

http://online.wsj.com/news/articles/SB10001424127887324432404579051123500813210