Popular quotes about Economics! Wisdom and inspiration are here! | page 20
I started in the law; and the study of law, when it precedes the study of economics, gives you a set of foundation principles about how human beings interact. Economics is very useful, and I studied economics in graduate school. But without understanding the social and organizational context of economics, it becomes a theory without any groundwork.
Robert ReichWhether 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.
Ludwig von MisesThe study of economics has been again and again led astray by the vain idea that economics must proceed according to the pattern of other sciences.
Ludwig von MisesTrickle-down economics - it didn't work. The whole idea was supply-side economics: give rich people a lot of money; they'll spend it, it'll go into the economy. Here's what we found out - rich people, really good at keeping all the money. That's how they got rich. If you want it in the economy, give it to the poor people. You know what they're really good at? Spending all their money.
Greg FitzsimmonsEconomics is in many respects the queen of the soft sciences. It's expected to be better than the rest. It's my view that economics is better at the multi-disciplinary stuff than the rest of the soft science. And it's also my view that it's still lousy.
Charlie MungerInvesting in women is smart economics, and investing in girls, catching them upstream, is even smarter economics.
Ngozi Okonjo-IwealaBy the laws of the land, people who come looking for jobs in America are illegal. But by the laws of economics, they are following the logic and laws of economics when they leave Guatemala and go to Mexico, leave Mexico and come to the U.S., leave Africa and go to Spain and Europe looking for jobs.
Benjamin BarberThere is no other proposition in economics that has more solid empirical evidence supporting it than the Efficient Market Hypothesis... In the literature of finance, accounting, and the economics of uncertainty, the EMH is accepted as a fact of life.
Michael JensenPositive economics is in principle independent of any particular ethical position or normative judgment...In short, positive economics is or can be an "objective" science.
Milton FriedmanIntrinsic value follows meaning follows form follows economics follows function follows more economics follows market research.
Erik AdigardIโm not into the whole Austrian type, strongly libertarian economics. I like more mainstream economics.
Robert SarvisConventional economics is a form of brain damage. Economics is so fundamentally disconnected from the real world, it is destructive.
David SuzukiEveryone's lost a lot of money on their 401k plans. I've heard some people calling them 201k plans. So it's even more important to get people to be saving more for retirement. Behavioral economics has helped us learn a lot about how to do that.
Richard ThalerThe 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.
David Mamet95 percent of economics is common sense made complicated, and even for the remaining 5 percent, the essential reasoning, if not all the technical details, can be explained in plain terms.
Ha-Joon ChangNo one knows anything about economics. It's the great lie of the economists. By contrast in football people might have contrasting opinions, each of which has some validity. But the economists always speak in conditionals - what a mess.
Vicente del BosqueI started in college as a business major and finally transferred to home economics and studied making clothes.
Phillip LimWhy not stakeholder action? There's no economic principal that says that management should be responsive to shareholders, in fact you can read in texts of business economics that they could just as well have a system in which the management is responsible to stakeholders.
Noam ChomskyWhen the study of the household (ecology) and the management of the household (economics) can be merged, and when ethics can be extended to include environmental as well as human values, then we can be optimistic about the future of humankind. Accordingly, bringing together these three โE's' is the ultimate holism and the great challenge for our future.
Eugene OdumEconomics now drives politics. This gives us a system in which the relationship between power and politics is no longer fused. Power is global. We have an elite that now floats in global flows. It could care less about the nation-state, and it could care less about traditional forms of politics. Hence, it makes no political concessions whatsoever. It attacks unions, it attacks public schools, it attacks public goods. It doesn't believe in the social contract.
Henry GirouxAn 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.
Robert D. KaplanI saw that publishing all over the world was deeply constrained by self-censorship, economics and political censorship, while the military-industrial complex was growing at a tremendous rate, and the amount of information that it was collecting about all of us vastly exceeded the public imagination.
Julian AssangeThe 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.
Margaret AtwoodGood writing, and this is especially important in a subject such as economics, must also involve the reader in the matter at hand. It is not enough to explain. The images that are in the mind of the writer must be made to reappear in the mind of the reader, and it is the absence of this ability that causes much economic writing to be condemned, quite properly, as abstract.
John Kenneth GalbraithThe 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.
Robert J. ShillerIt 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.
William J. ClintonEconomics and politics are the governing powers of life today, and that's why everything is so screwy.
Joseph CampbellWe must have an economy that does not force the migrant worker's child to miss school in order to earn...just so the family can eat. That is the moral bankruptcy that trickle-down economics is all about.
Barbara JordanI do agree that the science is not settled on this. The idea we would put Americans' economy in jeopardy based on scientific theory that is not settled yet to me is nonsense. Just because you have a group of scientists who stood up and said this is the fact... Galileo got outvoted for a spell. To put Americans' economic future in jeopardy, asking us to cut back in areas that would have monstrous economic impact on this country is not good economics and I would suggest is not necessarily good science.
Rick PerryI certainly wake up every morning and thank God that I'm not a novelist because the theater is tough, but novel writing is infinitely harder. Especially with the economics of serious fiction being what they are in America.
Tony KushnerAs Charles Darwin said,'The economy shown by Nature in her resources is striking,'' says the Spirit. 'All wealth comes from Nature. Without it, there wouldn't be any economics. The primary wealth is food, not money. Therefore anything that concerns the handling of the land also concerns me.
Margaret AtwoodRomney economics would spell disaster for America's middle class. In this economy there are shipbuilders and ship wreckers.
Martin O'MalleyThe entire point of life is to find ways to get others to do your work for you. Donโt you know anything about basic economics?
Brandon SandersonFirst rule of Economics 101: our desires are insatiable. Second rule: we can stomach only three Big Macs at a time.
Douglas HortonWell, I think first of all, probably the most fundamental thing is that we are a mixed-signal analog semiconductor company, which, along with some of the other well-known names in the industry, enjoys very good economics.
David MilneMorality, it could be argued, represents the way that people would like the world to work, wheareas economics represents how it actually does work.
Steven LevittI think the team that successfully puts together an economic and social policy framework for global full employment in decent working conditions based on local development, that would command the support of all stakeholders and all international organizations concerned, should be awarded the [Nobel] prize. I am sure they would get it not just for economics, but also for peace in the world.
Juan SomaviaWe now know that anything which is economically right is also morally right. There can be no conflict between good economics and good morals.
Henry FordRepublicans drove us into debt with two wars and the Bush tax cuts. Now they want to pay for that debt with cuts to Social Security, Medicare and Medicaid. This is not only immoral it is bad economics. Why do Republicans always have money for war but not for those in need?
Bernie SandersI'd call it a new version of voodoo economics, but I'm afraid that would give witch doctors a bad name.
Geraldine FerraroIt 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.
Charlie Munger