Economics Quotes
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You can only confiscate the wealth that exists at a given moment. You cannot confiscate future wealth - and that future wealth is less likely to be produced when people see that it is going to be confiscated.
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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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Keynesians are to economics what witch doctors are to medicine.
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The English practice of accommodating the rules of commercial law to commercial practice. The line of causation ran from economic need to legal response
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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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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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Teachers have power. We may cripple them by petty economics; by Government regulations, by the foolish criticism of an uninformed press; but their power exists for good or evil.
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I'm very lucky to be able to work in print and radio. I'm very lucky to be able to work at a time when finance and economics are really important. And the number of people who tell finance and economic stories in a kind of accessible storytelling way, there's much more demand than there is supply.
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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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It doesn't take a degree in economics to know that something is wrong when it takes $30 or $40 to fill up the gas tank.
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Perhaps the most widespread misunderstanding of economics is that it applies solely to financial transactions. Frequently this leads to statements that "there are noneconomic values" to consider. There are, of course, noneconomic values. Indeed, there are only noneconomic values. Economics is not a value itself but merely a method of trading off one value against another.
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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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Over the long term, absent of other barriers, economics always win.
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The most powerful forces in economics are not numbers or facts. They are prejudices and preferences. No amount of evidence will ever change the degree to which many of the rich and powerful prefer themselves to be richer and more powerful and others poorer and weaker.
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...quantity is not necessarily synonymous with quality and brilliant ideas are not a function of the number of titles printed.
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A demand for commodities is not a demand for labor. The demand for labor is determined by the amount of capital directly devoted to the remuneration of labor: the demand for commodities simply determines in what direction labor shall be employed.
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Companies that start by redesigning the economics of an industry often finish by redesigning the whole industry-and owning it.
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Economics is mostly how humans rationalize who gets what and why. It's how we instantiate our preferences about status, privileges, and power.
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Economics has never been a science - and it is even less now than a few years ago.
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The situation today is so different than in the '70s. The laws are different, and people's understanding about economics is different. I don't see any serious move for such controls.
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If you're a realist, you know that people have different roles to play in politics, economics, and this is an important role, but I do think that there has to be an understanding of how what happens here on Wall Street has such broad consequences not just for the domestic but the global economy, so more thought has to be given to the process and transactions and regulations so that we don't kill or maim what works, but we concentrate on the most effective way of moving forward with the brainpower and the financial power that exists here.
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I don't think Obama understands basic economics. Not economics that work. He may understand some theory that someone in Princeton sat and dreamed up, but it's not working.
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My principal work now lies in tracing out the exact nature and conditions of utility. It seems strange indeed that economists have not bestowed more minute attention on a subject which doubtless furnishes the true key to the problems of economics.
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I think that the economics of book publishing favor hits with long book runs. You make all your money on the last bunch of books, not the first.
