Austrian Economics

Famous quotes containing the words austrian and/or economics:

“An Austrian army, awfully array’d,
Boldly by battery besiege Belgrade;
Cossack commanders cannonading come,
Deal devastation’s dire destructive doom;”
—Alaric Alexander Watts (1797–1864)

“There is no such thing as a free lunch.”
—Anonymous.

An axiom from economics popular in the 1960s, the words have no known source, though have been dated to the 1840s, when they were used in saloons where snacks were offered to customers. Ascribed to an Italian immigrant outside Grand Central Station, New York, in Alistair Cooke’s America (epilogue, 1973)