Economics Quotes
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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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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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It is astonishing what foolish things one can temporarily believe if one thinks too long alone, particularly in economics.
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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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An emerging market is a country where politics matters at least as much as economics to the market.
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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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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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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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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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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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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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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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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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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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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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Economics that hurt the moral well-being of an individual or a nation are immoral and, therefore, sinful.
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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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The things that get rewarded, get done
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It is also often argued that neo-liberalism, especially neo-liberal economics, helps those in the advantaged categories and hurts, often badly, those in the disadvantaged categories.
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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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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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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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Economics was the only profession where a person could be considered an expert without having once been right.
