Quotes About Economics

When people are running up more and more debt for housing, they call that "real wealth." It exposes what's wrong in the mainstream economics and why most of the economics that justifies austerity programs and economic shrinkage is in the textbooks is not scientific. Junk economics denies the role of debt and denies the fact that the economic system we have now is dysfunctional.

I was 25 years old and pursuing my doctorate in economics when I was allowed to spend six months of postgraduate studies in Naples, Italy. I read the Western economic textbooks and also the more general work of people like Hayek. By the time I returned to Czechoslovakia, I had an understanding of the principles of the market. In 1968, I was glad at the political liberalism of the Dubcek Prague Spring, but I was very critical of the Third Way they pursued in economics.

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'.

Mathematical economics is old enough to be respectable, but not all economists respect it. It has powerful supporters and impressive testimonials, yet many capable economists deny that mathematics, except as a shorthand or expository device, can be applied to economic reasoning. There have even been rumors that mathematics is used in economics (and in other social sciences) either for the deliberate purpose of mystification or to confer dignity upon common places as French was once used in diplomatic communications.

Economics has increasingly become the science of human behavior in general, and it's all the more unlikely to think that it can possibly be value-free - and, in fact, it isn't. Economics rests on un-argued assumptions that need to be examined.

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.

Software engineering economics.

Rent control is one policy that economists universally would oppose. It is a grossly inefficient way of allocating housing space and, of course, it inhibits construction and creates the very thing it is supposed to alleviate. It is one of those things where people simply don't understand simple economics and, therefore, put in for political reasons what will damage the very people that it is designed to help. Minimum wage levels are another classic example.

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.

Suckers think that you cure greed with money, addiction with substances, expert problems with experts, banking with bankers, economics with economists, and debt crises with debt spending

One of the most important skills of the economist, therefore, is that of simplification of the model. Two important methods of simplification have been developed by economists. One is the method of partial equilibrium analysis (or microeconomics), generally associated with the name of Alfred Marshall and the other is the method of aggregation (or macro-economics), associated with the name of John Maynard Keynes.

The realization that I came to is that each citizen for himself or herself understands the economics, which is, "I better make more than I spend and I better put something aside for a rainy day, and I want to get a good idea about what to do with the surplus so that perhaps it can grow while I'm sleeping." And that that's capitalism. Everybody practices it, but half of the country - those on the left - deny that it's true.

I was very interested in politics in college and was heading to be a lawyer. I have a degree in economics and I was interested in it. I hadn't really gotten super serious about it and I'd done a lot of student politics in high school. I really think it would be interesting and fun and challenging to go into politics.

Basic US economics tells us that back-of-the-house workers are very unlikely to get more pay overall. The fact that workers are in those jobs means employers are already paying them what they need to pay them to get them in the current environment. If employers do share some tips with them, it will likely be offset by a reduction in their base pay.

There was a hope then by some people that what we call trickle-down economics would work. That if you made the economy pie bigger, everybody would benefit. Twenty-five years after NAFTA, we know that that is not true. We should have known then that it was not true.

According to the Institute for International Economics, trade barriers cost American consumers $80 billion a year or more than $1,200 per family.

Understanding economics can help you make better decisions and lead a happier life.

If, in our haste to 'progress,' the economics of ecology are disregarded by citizens and policy makers alike, the result will be an ugly America. We cannot afford an America where expedience tramples upon esthetics and development decisions are made with an eye only on the present.

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.

Two Americans have been awarded the Nobel Prize for Economics. They are the first to figure out all the charges on their telephone bill.

It's critical to have a sound foundation in free-market economics and the Constitution. A great many Republicans in Washington don't have that foundation.

We can't afford more top-down economics. What we need are policies that will grow and strengthen the middle class.

Economics is a social science, not a physical science.

Humans have trouble with economics, as you may have noticed, and not just because economic circumstances sometimes cause them to starve. Humans seem to have an innate inability to pay attention to economic principles.

We have lost sight of the dependence we have on nature in economics

Now that virtually every career is an option for ambitious girls, it can no longer be considered regressive or reactionary to reintroduce discussion of marriage and motherhood to primary education. We certainly do not want to return to the simplistic duality of home economics classes for girls and wood shop for boys.

The good news is that, at least in economics, I've seen movement away from its overemphasis on mathematical models of purely rational behavior to a more eclectic and commonsense approach: research that is, among other things, more respectful of insights from psychology.

[My father] was also a lawyer in his bank and specialized in tax law. He would have to do the tax returns for all the Harvard profs because they were buffaloed by that kind of reasoning. Professors in the economics department, even they knew nothing about it.

How sad to see a father with money and no joy. The man studied economics, but never studied happiness.

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.

I write with two things in mind. I want to be right with my fellow economists. After all, I've made my life as a professional economist, so I'm careful that my economics is as it should be. But I have long felt that there's no economic proposition that can't be stated in clear, accessible language. So I try to be right with my fellow economists, but I try to have an audience of any interested, intelligent person.

The agrarian crisis [in India] is an unnecessary tragedy, resulting directly from an economics of greed and a politics driven by the economies of greed.

Every sacred cow in the business has to do with economics.

Economics is not about things and tangible material objects; it is about men, their meanings and actions.

These days no one can make money on the goddamn airline business. The economics represent sheer hell.

For in the theoretical field bourgeois economics no longer engages in blithe and joyous fights.

I think anytime that you go to the extreme of any mode of economics, be it capitalism or communism, you have these feedback mechanisms that make the system turn in on itself.

The kind of plan that Donald [Tramp] has put forth would be trickle-down economics all over again. In fact, it would be the most extreme version, the biggest tax cuts for the top percent of the people in this country than we've ever had.

Economics, politics, and personalities are often inseparable.

We've had trickle down economics in the country for ten years now, and most of us aren't even damp yet.

One of the anomalies of modern ecology is the creation of two groups, each of which seems barely aware of the existence of the other. The one studies the human community, almost as if it were a separate entity, and calls its findings sociology, economics and history. The other studies the plant and animal community and comfortably relegates the hodge-podge of politics to the liberal arts. The inevitable fusion of these two lines of thought will, perhaps, constitute the outstanding advance of this century.

When a management with reputation for brilliance gets hooked up with a business with a reputation for bad economics, it's the reputation of the business that remains intact.

To those of you who study history, economics, sociology, literature and language I present the challenge of the utilization of the enormous resources in our grasp to the problem of creating a genuinely good life for yourselves and your children.

For most progressives, what happens in families is a matter of "just" women's issues and children's issues. So progressive movements have focused primarily on dismantling the top of the dominator pyramid (politics and economics) and left its foundations (domination in family, gender, and other intimate relations) in place.

I take great solace that Einstein failed math. I failed math. I also failed English and home economics. Einstein was an underachiever.

Economics spreads happiness.

America is divided by economics, and we as Americans, we've got to do a better job of supporting poor people.

Well the thinking is we have the highest tax rate in the world. In the entire world, we have the highest tax rate. There's gridlock in Washington because there's no leadership. So what I'm doing is a large tax cut especially for the middle class and they're gonna- we're going to have a dynamic country. We're going to have dynamic economics. And it's going to be something really special. And people are going back to work.