Top 5 Niall Kishtainy Quotes (2024 Update)

Niall Kishtainy Quote: “The poorer the household, the larger the proportion of its budget dedicated to nourishment.”

1. “The poorer the household, the larger the proportion of its budget dedicated to nourishment.”

2. “Plato feared that if wealth became too important people would start to compete for it. Eventually the state would be ruled by the rich who’d be envied by the poor. People would end up quarrelling and fighting.”

— Niall Kishtainy

3. “Turning to capital, Smith said that the amount of profit that capital can expect to earn through investments is roughly equal to the rate of interest. This is because employers compete with each other to borrow funds to invest in profitable opportunities. Over time the rate of profit in any particular field falls as capital accumulates and opportunities for profit are exhausted.”

— Niall Kishtainy

4. “In boom times companies have high profits. They increase production to satisfy demand for goods. This leads to excess supply. Companies cut prices to compete for customers. leading to lower profits, lay-offs, and economic depression. Eventually lower prices lead to an increase in demand and profits go back up. The economy is a yo-yo.”

— Niall Kishtainy

5. “Ludwig von Mises argues that socialism cannot work because prices are the only way to establish need.”

— Niall Kishtainy

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