Economics Quotes
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Economics has many substantive areas of knowledge where there is agreement, but also contains areas of controversy. That's inescapable.
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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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Doing ventures is great - I'm talking economics now - if you've got a rising market. It's wonderful. If I hadn't got HKT, I would have been just as happy. Because there's a price for everything. And to overpay for something is awful.
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It is astonishing what foolish things one can temporarily believe if one thinks too long alone, particularly in economics.
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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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Most of the expressions we use in economics are relative terms. All of us are votaries of free trade.
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When, over fifty years ago, I first became interested in economics - as a discipline that provided the key to social structure and social problems - it never crossed my mind that one day I might be the honored recipient of a Nobel Memorial Prize.
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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 don't go to the beach. There is no value in going to the beach. If I did go I would probably read economics books.
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I learned that economics was not an exact science and that the most erudite men would analyze the economic ills of the world and derive a totally different conclusion.
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If it were not for the hope that a scientific study of men's social actions may lead, not necessarily directly or immediately, but at some time and in some way, to practical results in social improvement, not a few students of these actions would regard the time devoted to their study as time misspent. That is true of all social sciences, but especially true of economics. For economics "is a study of mankind in the ordinary business of life"; and it is not in the ordinary business of life that mankind is most interesting or inspiring.
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Capitalism is not an 'ism.' It is closer to being the opposite of an 'ism,' because it is simply the freedom of ordinary people to make whatever economic transactions they can mutually agree to.
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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?
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We are ignorant of what it is we do not know even though we know more than we can ever say
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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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The things that get rewarded, get done
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Most people have an aversion to risk, my college economics professor told me. Which means they have to be rewarded to take on that risk. The higher the risk, the higher the possible payout has to be for people to jump.
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If we are going to carry on growing, and we will, because no country is going to forfeit its right to economic growth, we have to find a way of doing it sustainably.
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I think that the use of copyright is going to change dramatically. Part of it is economics. There is just going to be so much content out there - there's a scarcity of attention. Information consumes attention, and there's too much information.
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The first rule of economics is that there is an infinite number of desires chasing a finite number of goods, services and resources. The first rule of politics is to ignore the first rule of economics.
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In economics, when you put together a highly elastic thing and a highly inelastic thing, you create extraordinary potential for turbulence, volatility, and for unstable prices.
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I have yet to meet the famous Rational Economic Man theorists describe. Real people have always done inexplicable things from time to time, and they show no sign of stopping.
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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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You can buy a person's hands but you can't buy his heart. His heart is where his enthusiasm, his loyalty is.
