Economics Quotes
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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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Economics is not a discipline that comes to correct answers - economies are too complex.
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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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One of the great mistakes is to judge policies and programs by their intentions rather than their results.
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So we don't need more top-down economics. We've tried that theory. We've seen what happens. We can't afford to go back to it.
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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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I got into economics because I wanted to make things better for the average person.
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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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What is economics? A science invented by the upper class in order to acquire the fruits of the labor of the underclass.
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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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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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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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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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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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An emerging market is a country where politics matters at least as much as economics to the market.
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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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His theory fails a basic test of real economics.
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Economics is a highly sophisticated field of thought that is superb at explaining to policymakers precisely why the choices they made in the past were wrong. About the future, not so much.
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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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Economics that hurt the moral well-being of an individual or a nation are immoral and, therefore, sinful.
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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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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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Religion to be true must satisfy what may be termed humanitarian economics, that is, where the income and the expenditure balance each other.
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So no, I’m not too big on religion...and not very fond of politics or economics either...And why should I be? They are the man-created trinity of terrors that ravages the earth and deceives those I care about. What mental turmoil and anxiety does any human face that is not related to one of those three?
