Economics Quotes
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It economics is a method rather than a doctrine, an apparatus of the mind, a technique of thinking which helps its possessor to draw correct conclusions.
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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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You know what the economics are like in Red Lake County. There's no way a family can pay $15,000, $20,000 a year for health insurance and make it work. You just can't do it. It's got to change.
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Politics is the most concentrated expression of economics.
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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 really don't see any influence of my work on any artists. But I do think I've had an influence on drawings' being shown. I've had an influence on the economics of it.
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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 the world of traditional economics, it shouldn't matter whether you use an opt-in or opt-out system. So long as the costs of registering as a donor or a nondonor are low, the results should be similar. But many findings of behavioral economics show that tiny disparities in such rules can make a big difference.
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Textbooks describe economics as the study of the allocation of scarce resources. That definition may be the 'what,' but it certainly is not the 'why.'
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Software engineering economics.
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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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However, the economics of our business continued to deteriorate. We barely escaped bankruptcy a year ago, and in the aftermath of that escape we had to make some even tougher decisions.
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Lunches don't get free just because you don't see the prices on the menu. And economists don't get popular by reminding people of that.
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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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I practice what has come to be called behavioral economics.
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Economics was the only profession where a person could be considered an expert without having once been right.
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Economics has been called the dismal science. Once you get to understand it, you may not find it so dismal, but you don't find it much of a science either.
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Among minor alterations, I may mention the substitution for the name political economy of the single convenient term economics. I cannot help thinking that it would be well to discard, as quickly as possible, the old troublesome double-worded name of our science.
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Traditional economics is based on imaginary creatures sometimes referred to as 'Homo economicus.' I call them Econs for short. Econs are amazingly smart and are free of emotion, distraction or self-control problems. Think Mr. Spock from 'Star Trek.'
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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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With the variety of fields within economics, broadly conceived and the increasing specialization of scholarly world, the award of a Nobel Memorial Prize honors not only the individual scholar but, implicitly, also a special field or a distinctive method.
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If, in our haste to 'progress,' the economics of ecology are disregarded by citizens and policy makers alike, the result will be an ugly America. We cannot afford an America where expedience tramples upon esthetics and development decisions are made with an eye only on the present.
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Intermittency in availability for wind and solar changes the economics, particularly this requirement that the power company at all times be able to require power. That's large.
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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.
