Economics Quotes
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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.
Thomas Sowell -
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.
Millicent Fawcett
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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.
Rick Perry -
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.
Charles S. Sanford, Jr. -
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.
David Plotz -
Even though I didn't get a business degree, I enjoyed learning about economics.
Herb Ritts -
Companies that start by redesigning the economics of an industry often finish by redesigning the whole industry-and owning it.
Tim Ferriss -
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.
Winifred Holtby
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Economics is a study of cause-and-effect relationships in an economy. It's purpose is to discern the consequences of various ways of allocating resources which have alternative uses. It has nothing to say about philosophy or values, anymore than it has to say about music or literature.
Thomas Sowell -
Economics is not a morality play.
Paul Krugman -
Economics is mostly how humans rationalize who gets what and why. It's how we instantiate our preferences about status, privileges, and power.
Nick Hanauer -
The problem is a lot of what is called economics is not economics. It is more ideology or religion.
Joseph Stiglitz -
Prices impose the most effective kind of rationing - self-rationing. Why is rationing necessary? Because what everybody wants always adds up to more than there is. . .Resources are limited but desires are not. That is the basic and defining problem of economics.
Thomas Sowell -
It is clear that economics, if it is to be a science at all, must be a mathematical science.
William Stanley Jevons
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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.
Nick Hanauer -
Economics has never been a science - and it is even less now than a few years ago.
Paul Samuelson -
RE: GSEs like Freddie Mac & Fannie Mae: "creditors will continue to underprice the risk-taking of these financial institutions, overfund them, and fail to provide effective market discipline Facing prices that are too low, systemically important firms will take on too much risk."
Gary H. Stern -
...quantity is not necessarily synonymous with quality and brilliant ideas are not a function of the number of titles printed.
Carlo M. Cipolla -
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.
William Stanley Jevons -
Before 'Life of Pi,' I wanted to do economics. And now, I realize how bad a mistake that would have been. I just can't see it as my cup of tea anymore.
Suraj Sharma
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The narrative related to economics is, I think, very well understood even by the common man.
Nirmala Sitharaman -
Demand is best measured in terms of spending. You know, I think in traditional economics, it's a mistake to measure it in terms of the quantity of goods.
Ray Dalio -
People who know nothing about advertising, nothing about pharmaceuticals, and nothing about economics have been loudly proclaiming that the drug companies spend too much on advertising - and demanding that the government pass laws based on their ignorance.
Thomas Sowell -
All the political angst and moral melodrama about getting 'the rich' to pay 'their fair share' is part of a big charade. This is not about economics, it is about politics.
Thomas Sowell