Economics Quotes
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When men see how relevant the ten commandments are for economics, they should gain new respect for the importance of the laws of God for all of life, but especially for the life of dominion man, the man redeemed by grace through faith in the one true Dominion Man, Jesus Christ.
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The theory which follows is entirely based on a calculus of pleasure and pain; and the object of economics is to maximize happiness by purchasing pleasure, as it were, at the lowest cost of pain.
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Personally, I don't see old economics and behavioural economics as opposed. It is useful to assume people are rational as a good approximation to their long term behaviour, but it would be unwise not to think how in practice their behaviour may deviate from that simplifying assumption.
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Behavioral economics can explain some things, but it's hard to explain a lot of the underlying processes that generate these decisions, much less some of these unconscious things that we don't have a handle on at all.
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Scratch a pessimist and you will often find a defender of privilege.
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When we started looking at the bigger television ecosystem, you see that there's not that many serialized TV shows being made for TV. The economics are lousy: They don't sell into syndication well; they're expensive to produce.
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Economics is not a discipline that comes to correct answers - economies are too complex.
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Too large a proportion of recent "mathematical" economics are mere concoctions, as imprecise as the initial assumptions they rest on, which allow the author to lose sight of the complexities and interdependencies of the real world in a maze of pretentious and unhelpful symbols.
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Rock 'n' roll accepted me and paid me, even though I loved the big bands I went that way because I wanted a home of my own. I had a family. I had to raise them. Let's don't leave out the economics. No way.
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We shall never have a science of economics unless we learn to discern the operation of law even among the most perplexing complications and apparent interruptions.
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In a world in which the price of calculation continues to decrease rapidly, but the price of theorem proving continues to hold steady or increase, elementary economics indicates that we ought to spend a larger and larger fraction of our time on calculation.
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The president says we need to raise the debt ceiling because America pays its bills. No if we paid our bills we wouldn't have all this debt. The reason we have to raise the debt ceiling is because we can't pay our bills and we have to borrow money because we don't have any money to pay our bills.
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Men look on knowledge which they learn--or might learn--from others as they do on the most beautiful structures which are not their own: in outward objects, they would rather behold their own hogsty than their neighbor's palace; and in mental ones, would prefer one grain of knowledge gained by their own observation to all the wisdom of a thousand Solomons.
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I was an economics major, which I enjoyed because I had a good business sense.
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There'll be a growing disparity between economics and politics. An economy that grows so rapidly is intractably global. On the other hand, the current political system is intractably national. So there is a growing dichotomy between a global economy and locally based politiriscs.
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The difficulties of economics are mainly the difficulties of conceiving clearly and fully the conditions of utility.
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I think there are two areas where new ideas are terribly dangerous: economics and sex. By and large, it's all been tried, and if it's really new, it's probably illegal or dangerous or unhealthy.
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Well, you know, even a freshman in college who is studying economics knows that if you cap the cost of being able to recoup your investment that people who want to invest aren't going to do it.
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There are two kinds of games in economics. One is the game where people use only legal moves. Then there is the true game, the one like real life, where the strategies and moves people make, some of them contain illegal gains.
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I certainly wake up every morning and thank God that I'm not a novelist because the theater is tough, but novel writing is infinitely harder. Especially with the economics of serious fiction being what they are in America.
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It is clear that Economics, if it is to be a science at all, must be a mathematical science ... simply because it deals with quantities... As the complete theory of almost every other science involves the use of calculus, so we cannot have a true theory of Economics without its aid.
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I admire the artists that work everyday to attest things for themselves... In the act of transforming the objects of the everyday they transform the passage of time and analyze the economics and politics of the instruments of living.
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His theory fails a basic test of real economics.
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Politics don't exist, actually. It's just a cheap business. Economics is what makes politics.
