“The social usefulness of well-defined property rights, free exchange, and the system of relative money prices . . . has perhaps been demonstrated most convincingly by the catastrophic failure in the twentieth century of those societies that tried to function without them.”
– Paul Heyne, “Efficiency,” in David Henderson, ed., The Fortune Encyclopedia of Economics (New York: Warner Books, Inc., 1993), p. 11.
“The wildcatters showed their gratitude to their city through their philanthropy. They were not the only ones who supported good causes in our region, but many of the foundations in Houston had their beginning in the oil and gas industries.”
– Joe Pratt, Cullen/NEH Professor in History and Business, University of Houston
George Will invoked the theme of Texas exceptionalism in a recent column pitching the state’s governor Rick Perry for the Republican presidential nomination.…