Economics Quotes
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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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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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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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It is clear that Economics, if it is to be a science at all, must be a mathematical science ... simply because it deals with quantities... As the complete theory of almost every other science involves the use of calculus, so we cannot have a true theory of Economics without its aid.
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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 intellectuals outside the field of economics show remarkably little interest in learning even the basic fundamentals of economics. Yet they do not hesitate to make sweeping pronouncements about the economy in general, businesses in particular, and the many issues revolving around what is called 'income distribution'.
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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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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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The things that get rewarded, get done
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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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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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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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The study of economics does not seem to require any specialised gifts of an unusually high order.
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Software engineering economics.
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Politics don't exist, actually. It's just a cheap business. Economics is what makes politics.
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Politics is the most concentrated expression of economics.
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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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capital is the result of saving, and not of spending. The spendthrift who wastes his substance in riotous living decreases the capital of the country, and therefore the excuse often made for extravagance, that it is good for trade, is based upon false notions respecting capital.
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If ever again our nation stumbles upon unfunded paper, it shall surely be like death to our body politic. This country will crash.
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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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I went to university for a couple of years and I didn't enjoy university. The studying and the accountancy, economics, I just hated that stuff. Now the irony is here I am lawyer, accountant, I do it all day every day and sit at a desk. So I've never ended up where I wanted to be in many ways. I always wanted to be a farmer.
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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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Over the long haul of life on the planet, it is the ecologists, and not the bookkeepers of business, who are the ultimate accountants.
