Quotes About Economics

My mother and my father taught me to look at the actual problem, not the face of it, not the veneer of it. So for me, I was never - I was impressed that it - racially, I was impressed, right, but now in America it's about economics, and it's been about economics, and honestly, everything's been about economics since I don't want to say the beginning of time, but it's been about economics for a long while.

Interestingly, human irrationality is a hot topic in economics at the moment. Behavioural economics it's called, on the cusp of economics and psychology.

Economists get very uncomfortable when you talk about virtue and vice. It doesn't lend itself to a lot of columns with numbers. But I would argue that there are big virtue effects in economics. I would say that the spreading of double-entry bookkeeping by the Monk, Fra Luce de Pacioli, was a big virtue effect in economics. It made business more controllable, and it made it more honest.

The problem is, of course, that not only is economics bankrupt but it has always been nothing more than politics in disguise ... economics is a form of brain damage.

It is almost as hard to define mathematics as it is to define economics, and one is tempted to fall back on the famous old definition attributed to Jacob Viner, "Economics is what economists do," and say that mathematics is what mathematicians do. A large part of mathematics deals with the formal relations of quantities or numbers.

I'm very proud to say I only took one course in economics in college, and it was on Saturday morning - Tuesday, Thursday and Saturday at 8 o'clock. Now I don't know what your college experience was like, but I'll tell ya, on Saturday morning at 8 o'clock, the last thing I wanted to do was go to economics class.

I suspected economics was irredeemable as a policy tool for citizens groups. I saw economics lead its practitioners and citizens alike into a form of brain-damaging indoctrination.

Mainstream economics scholarship produces theory without facts ("pure theory") and facts without theory ("applied economics").

We should know that only replacing the economics of competition and greed with the economics of equitable cooperation will guarantee a globalization that takes advantage of potential efficiency gains in ways that also promote environmental protection, international equity, economic democracy, and variety.

I also believe - and hope - that politics and economics will cease to be as important in the future as they have been in the past; the time will come when most of our present controversies on these matters will seem as trivial, or as meaningless, as the theological debates in which the keenest minds of the Middle Ages dissipated their energies. Politics and economics are concerned with power and wealth, neither of which should be the primary, still less the exclusive, concern of full-grown men.

I’m not into the whole Austrian type, strongly libertarian economics. I like more mainstream economics.

So, economics should emulate physics' basic ethos, but its search for precision in physics-like formulas is almost always wrong in economics.

I think it's evident that expensive neighborhoods in Seattle are surrounded by natural beauty. That elevates city life. So if we can make cities more attractive in the long run, we can be smarter about issues like development, zoning and economics.

Racism does not limit itself to biology or economics or psychology or metaphysics; it attacks along many fronts and in many forms, deploying whatever is at hand, and even what is not, inventing when the need arises.

Keynesians are to economics what witch doctors are to medicine.

The first proponent of cortical memory networks on a major scale was neither a neuroscientist nor a computer scientist but .. a Viennes economist: Friedrich von Hayek (1899-1992). A man of exceptionally broad knowledge and profound insight into the operation of complex systems, Hayek applied such insight with remarkable success to economics (Nobel Prize, 1974), sociology, political science, jurisprudence, evolutionary theory, psychology, and brain science (Hayek, 1952).

External realities - worlds of politics, economics, law, war, interpersonal and social relations - are part of prose fiction. Fiction also includes the realities of a character's interior language. Poetry can encompass the same realities, but in compressed, intensified language, which creates entirely different degrees of emotional force.

I have tried to put myself in the position of someone seeing economics for the first time. My goal is to emphasize the material that students should and do find interesting about the study of the economy.

The very nature of economics is rooted in nationalism. ... It [was] developed ... in the hope of throwing light upon questions of policy. But policy means nothing unless there is an authority to carry it out, and authorities are national.

You can sort of see elements of Donald trump policy in different walks of life. Brazil and France have a long history in intervening in business decisions to protect local jobs. What I don't think we see is much evidence that in the long run those types of tactics make much difference, when the economics of production are pushing in the other direction.

If you look at the economics of Nokia roughly half of the company, half of the business, half of how we think about the business is focused on those emerging markets and on those lower-priced devices. But, of course, people who are aspirational and buying those lower-priced devices today are looking at smart phones tomorrow, and so forth.

Economics was like psychology, a pseudoscience trying to hide that fact with intense theoretical hyperelaboration. And gross domestic product was one of those unfortunate measurement concepts, like inches or the British thermal unit, that ought to have been retired long before.

Over the long term, absent of other barriers, economics always win.

An idea is only an idea if it causes unease, debate and reflection. By that standard, Thomas Homer-Dixon's concept of an 'ingenuity gap' is truly a new idea. I can think of no other new concept that so fully condenses all of the challenges we face as a human civilization than the 'ingenuity gap'. Homer-Dixon has found a way to unite all of our concerns about economics, war, population growth, complexity, etc. under a single heading. He is one of an elite group of academics who can write for a mass audience.

Reader, you forget that economics precedes religion; worship grew out of eating, not the other way around.

Economics is (now) about emotion and psychology.

But waiting for 'eventually' to prove the alarmists wrong is not the wisest course of action. Unfullfillable ambitions to stifle growth will devastate a world trying to deal with the complexities of economics, stability, and the environment. Quality of life depends on access to energy. Noble intentions about 'C02-free' sources of energy are not sufficient, if their agenda of eliminating coal as a source, and turning their back on nuclear, are allowed to be part of our near-term policies.

Zero-sum thinking is an obsession of mine, but mostly in economics.

I served seven years as the chair of the Princeton economics department where I had responsibility for major policy decisions, such as whether to serve bagels or doughnuts at the department coffee hour.

The trickle-down theory of economics has it that it's good for rich people to get even richer because some of their wealth will trickle own, through their no doubt lavish spending, upon those who stand below them on the economic ladder. Notice that the metaphor is not that of a gushing waterfall but of a leaking tap: even the most optimistic endorsers of this concept do not picture very much real flow, as their language reveals" pg. 102.

We have always known that heedless self interest was bad morals, we now know that it is bad economics.

So science alone cannot solve this problem [mass extinction of humans]. It's something that we can only tackle by bringing science together with culture, economics, and even politics.

I mean, these good folks are revolutionizing how businesses conduct their business. And, like them, I am very optimistic about our position in the world and about its influence on the United States. We're concerned about the short-term economic news, but long-term I'm optimistic. And so, I hope investors, you know - secondly, I hope investors hold investments for periods of time - that I've always found the best investments are those that you salt away based on economics.

We got rich by violating one of the central tenets of economics: thou shall not sell off your capital and call it income. And yet over the past 40 years we have clear-cut the forests, fished rivers and oceans to the brink of extinction and siphoned oil from the earth as if it possessed an infinite supply. We've sold off our planet's natural capital and called it income. And now the earth, like the economy, is stripped.

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.

I'm not sure Roosevelt was quite a monster, he just did a poor job on the economics.

The entire point of life is to find ways to get others to do your work for you. Don’t you know anything about basic economics?

I was always interested in the larger picture, I was pre-law in college, and had a degree in economics. I was very interested in the big question 'how then shall we live?,' how do we organize as a civilization when we are so different, and often don't get along, yet we know at some point we have to unite for the common good? I actually really care about those issues, and I'm driven to understand how it works.

I don't think money can be understood through a lens limited to economics. And most books about money tell you the history of money, the instrument. But money is also an idea, one that we exchange to survive.

The biblical lifestyle is always a witness of resistance to the status quo in politics, economics, and all society. It is a witness of resurrection from death. Paradoxically, those who embark on the biblical witness constantly risk death - through execution, exile, imprisonment, persecution, defamation, or harassment - at the behest of the rulers of this age. Yet those who do not resist the rulers of the present darkness are consigned to a moral death, the death of their humanness. That, of all the ways of dying, is the most ignominious.

My first undertaking in the way of scientific experiment was in the field of economics and psychology.

I really am enjoying my economics class, but I think my favorite course has to be history.

I think there is universal agreement within the economics profession that the decline - the sharp decline in the quantity of money played a very major role in producing the Great Depression.

NAFTA, supported by the Secretary cost, us 800,000 jobs nationwide, tens of thousands of jobs in the Midwest. Permanent normal trade relations with China cost us millions of jobs. Look, I was on a picket line in early 1990's against NFATA because you didn't need a PhD in economics to understand that American workers should not be forced to compete against people in Mexico making 25 cents an hour.

The lnternet is turning economics inside-out. For example, everybody on the internet now wants stuff for free and there are so many free services available.

I'm going to be honest: I know a lot less about economics than I do about military and foreign policy issues. I still need to be educated.

Bitcoin might revolutionise more than money or economics. It could transform the role and nature of government

Trickle down economics is a fraud. Giving tax breaks to the rich and large corporations does not create jobs. It simply makes the rich richer, enlarges the deficit and increases income and wealth inequality. We need economic policies which benefit working families, not the billionaire class.