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The First Welfare Theorem holds only if all consumers and firms are price takers. If some individuals or firms are price makers (they have the power to affect prices), then the allocation of resources will generally be inefficient.

— Harvey S. Rosen

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More quotes by Harvey S. Rosen

Plato argued that in a good society the ratio of the richest to the poorest person's income should be at the most four to one.

In this country, the number of individuals on the government payroll certainly underestimates the importance of government.

If the goal is to help the poor, why not give them the money directly?

If it makes sense to transfer income from rich to poor people within a generation, why shouldn't we transfer income from rich to poor generations?

The mere ability to postpone taxes may not seem all that important, but its consequences are enormous.

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Quote text and notes from Wikiquote: Harvey S. Rosen (page history), available under CC BY-SA 4.0. Source quality and labels are our own summary of what Wikiquote records.