Economics Quotes
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Economics is not a discipline that comes to correct answers - economies are too complex.
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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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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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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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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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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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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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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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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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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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His theory fails a basic test of real economics.
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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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An emerging market is a country where politics matters at least as much as economics to the market.
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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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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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The difficulties of economics are mainly the difficulties of conceiving clearly and fully the conditions of utility.
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The attempt to isolate economics from other disciplines-notably politics, history, philosophy, finance, constitutional theory and sociology-has fatally disabled its power to explain what is happening in the world.
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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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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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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.
