Economics Quotes
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I founded Atari in my garage in Santa Clara while at Stanford. When I was in school, I took a lot of business classes. I was really fascinated by economics. You end up having to be a marketeer, finance maven and a little bit of a technologist in order to get a business going.
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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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Economics is not brain surgery.
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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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I feel like there's lot of people who know finance and economics better than I do. There are lots of people who are better storytellers than I am. But the space that I occupy of storytelling about finance and economics is - more people want it than can do it.
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Keynesians are to economics what witch doctors are to medicine.
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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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Economics is a choice between alternatives all the time. Those are the trade-offs.
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There can be no such thing as 'fairness in taxation.' Taxation is nothing but organized theft, and the concept of a 'fair tax' is therefore every bit as absurd as that of 'fair theft.'
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The difficulty with all of these things comes around economics and how much of what you see as your baby you are willing to give up to be part of something.
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Just as a poetic discussion of the weather is not meteorology, so an issuance of moral pronouncements or political creeds about the economy is not economics. Economics is a study of cause-and-effect relationships in an economy.
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We The Replacements never made any money on tour. None of us came out of the school of economics. We took it for granted that a rock and roll band gets ripped off. We've tried to shake that tree a couple of times, but what can we do? You look back, when you're sort of idle in your middle years, and think, we should have made some money.
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That’s because they don’t know. It’s like economics. Everybody’s got a theory, and some people make it their religion.
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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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The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.
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The human condition is always to push forward for the better and economics is the study of that process.
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The narrative related to economics is, I think, very well understood even by the common man.
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In order to understand the movement of prices, you need not an oscilloscope to measure the entire market and reduce it to noise, but a microscope to investigate the creative process behind every company and its price.
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The things that get rewarded, get done
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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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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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Despite a voluminous and often fervent literature on "income distribution," the cold fact is that most income is not distributed: It is earned.
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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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January is always a good month for behavioral economics: Few things illustrate self-control as vividly as New Year's resolutions. February is even better, though, because it lets us study why so many of those resolutions are broken.
