Quotes About Economics

Whether we like it or not, it is a fact that economics cannot remain an esoteric branch of knowledge accessible only to small groups of scholars and specialists. Economics deals with society's fundamental problems; it concerns everyone and belongs to all. It is the main and proper study of every citizen.

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.

Personally, I don't see old economics and behavioural economics as opposed. It is useful to assume people are rational as a good approximation to their long term behaviour, but it would be unwise not to think how in practice their behaviour may deviate from that simplifying assumption.

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

My policies are based not on some economics theory, but on things I and millions like me were brought up with: an honest day's work for an honest day's pay; live within your means; put by a nest egg for a rainy day; pay your bills on time; support the police.

When we refer to 'the biblical approach to economics' or the biblical response to politics' or 'biblical womanhood,' we're using the Bible as a weapon disguised as an adjective.

The laws of economics tell us that the expansion of the central state can't go on forever. Its limit is reached when the looted turn on the looters.

One of the things that even wealthy children need is an education, and I think the problems I saw really have nothing to do with economics. So I was unhappy with what my own children were getting even in the better schools, and then I was seeing so many children here recruited for failure.

Common sense is not something rigid and stationary, but is in continuous transformation, becoming enriched with scientific notions and philosophical opinions that have entered into common circulation. 'Common sense' is the folklore of philosophy and always stands midway between folklore proper (folklore as it is normally understood) and the philosophy, science, and economics of the scientists. Common sense creates the folklore of the future, a relatively rigidified phase of popular knowledge in a given time and place.

As a school board member, I might have particular views about the ways we might increase the economics curriculum in a local high school, but I'm not sure I should mandate that for the entire country.

My folks are economists and have taught economics and social science so I grew up with those kind of conversations around the dinner table.

Initially, terrorism was a certain mixture of politics, economics, and religion. Now, it seems that terrorism is more individual and done to avenge personal grudges. So there are two kinds of terrorism.

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.

As a child, I had no idea that I would end up in the film industry. My ambitions changed from wanting to join the army like my grandfather to taking up merchant navy as a career to running for India, and finally, investment banking while I was a student of economics honour. But during my college days, I began to get offers for modelling.

Economics is like the Dutch language - I'm told it makes sense, but I have my doubts.

Economics is a social science, not a physical science.

I'd like the reader to decide if he is willing to pay minute sums for content. I'd like the economics of web to be controlled between authors and readers, not advertiser.

When you look at any experimental work not directly related to economics, but trying to test rational behavior in other ways, experiments have conspicuously failed to show rational behavior. Macro evidence certainly suggests deviations from rationality, but I don't want to say the rationality hypothesis is completely wrong. If you have any introspective idea or experimental idea about people's behavior, it seems to be incompatible with the really full scale rational expectations.

I'm one of the top 2 or 3 or 4 most conservative members in the House of Representatives when it comes to economics.

Most conservatives know better than to promote the state funding of art. The result of such funding is the mess that modern art has become. Atonal music is to music what subsidized art is to art. ...The fact that cacophony has reigned almost supreme since 1900 is a testimony to Mises' original observation. Atonal music is to music what socialism is to economics: planned chaos.

The attraction of power we take for granted in politics.. But in economics...the thrust...is for pecuniary return, for money. And I have always felt that denies in the economic world a very large part of the motivation.

The true law of economics is chance, and we learned people arbitrarily seize on a few moments and establish them as laws.

I write for one and only one purpose, to overcome the invincible ignorance of the traduced heart. I wish to speak to and for those who have had enough of the Social Lie, the Economics of Mass Murder, the Sexual Hoax, and the Domestication of Conspicuous Consumption.

It’s not about revenues: the fundamental economics in digital business is scale and margins. The top line has become the bottom line.

It turns out that advancing equal opportunity and economic empowerment is both morally right and good economics. Why? Because discrimination, poverty and ignorance restrict growth. We know that investments in education, infrastructure and scientific and technological research increase growth. They increase good jobs, and they create new wealth for all of us.

I was certain that I was not a Marxist, but I did believe firmly that a connection between economics and politics existed.

I've always been a big believer in the power of place. I believe that where we are affects who we are when it comes to happiness, spirituality, economics and creative genius.

The purpose of studying economics is not to acquire a set of ready-made answers to economic questions, but to learn how to avoid being deceived by economists.

The questions of economics, and how they infect, or rather how they affect intimacy. And that's probably the subject of all my films.

I got politics and economics moving and then others took over.

The history of the Church has been a history of divisiveness, repression and reaction. For almost 2000 years, Christianity has held mankind back in politics, in economics, in industry, in science, in philosophy, in culture.

I'll be a president that will turn our inner cities around and will give strength to people and will give economics to people and will bring jobs back.

Economics must not be relegated to classrooms and statistical offices and must not be left to esoteric circles. It is the philosophy of human life and action and concerns everybody and everything. It is the pith of civilization and of man's human existence.

We girls should have to change a tire or take a 'change your oil' class in high school instead of taking home economics, because we'd benefit from that.

To those who say climate change is not caused by human activity or that addressing it will harm the economy, let's encourage them to go to college, too, and to study physics and to study economics, but for the rest of us, let's get to work.

People think that this concept of GDP is scientific economics, partly because it has a precise number and can be quantified. But the underlying concept of "the market" makes it appear as if today's poverty is natural. It makes it appear that Goldman Sachs and Donald Trump are job creators instead of job destroyers. That is illogical, when you think about it.

Our country has shown a lack of will to resist its own disintegration .. . Canada is practically the only country left in the world which is a pure colony; colonial in psychology as well as in mercantile economics.

There's a very good reason for why economics developed the way it did, and that is that in many situations, the assumption that people will exploit the opportunities available to them is very plausible, and it simplifies the analysis of how markets will behave.

Of the major incentives to improve safety, by far the most compelling is that of economics. The moral incentive, which is most evident following an accident, is more intense but is relatively short lived.

I know there's similar dissatisfaction in America. There's a lot of white people who come from blue collar backgrounds and who feel ill-equipped and badly served by modern economics and the modern job market.

I have been gradually coming under the conviction, disturbing for a professional theorist, that there is no such thing as economics - there is only social science applied to economic problems.

Economics is the science which studies human behaviour as a relationship between ends and scarce means which have alternative uses.

I think there are two areas where new ideas are terribly dangerous: economics and sex. By and large, it's all been tried, and if it's really new, it's probably illegal or dangerous or unhealthy.

I found marketing to be highly descriptive and prescriptive, without much of a foundation in deep research. I brought in economics, organization theory, mathematics, and social psychology in my first edition of Marketing Management in 1967. Today Marketing Management is in its 15th edition and remains the world's leading textbook on marketing in MBA programs. Subsequently, I wrote two more textbooks, Principles of Marketing and Marketing: an Introduction.

The obsession with gold, actually and politically, occurs among those who regard economics as a branch of morality. Gold is solid, gold is durable, gold is rare, gold is even (in certain very peculiar circumstances) convertible. To believe in thrift, solidity and soundness is to believe in some way in the properties of gold.

It is way less certain to be a wonderful business in the future. The threat is alternative mediums of information. Every newspaper is scrambling to parlay their existing advantage into dominance on the Internet. But it is way less sure [that this will occur] than the certainty 20 years ago that the basic business would grow steadily, so there's more downside risk. The perfectly fabulous economics of this business could become grievously impaired.

Much of economics isn't difficult, or rather, the difficulty is in cooking up arguments to "prove" that commonsense conclusions are wrong. The fact is that many commonsense conclusions are quite correct, and it takes a lot of education to get you to believe different.

(Waste = Loss): The first rule of business is to survive and the guiding principle of business economics is not the maximisation of profit, it is the avoidance of loss