Quotes About Economics

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.

History shows that where ethics and economics come in conflict, victory is always with economics. Vested interests have never been known to have willingly divested themselves unless there was sufficient force to compel them.

Economics taught in most of the elite universities are practically useless in my context. My country [Afghanistan] is dominated by drug economy and a mafia; textbook economics does not work in my context.

Investing in women is smart economics, and investing in girls, catching them upstream, is even smarter economics.

Modern prophets say that our economics have failed us. No! It is not our economics which have failed; it is man who has failed-man who has forgotten God. Hence no manner of economic or political readjustment can possibly save our civilization; we can be saved only by a renovation of the inner man, only by a purging of our hearts and souls; for only by seeking first the Kingdom of God and His Justice will all these other things be added unto us.

The first rule of economics is that there is an infinite number of desires chasing a finite number of goods, services and resources. The first rule of politics is to ignore the first rule of 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.

Class I to XII wasn't much help; I was always a mediocre student. But when I pursued higher education and studied economics with theatre or psychology with science fiction, I got a whole new world view.

I don't care very much for the People Magazine approach to applied economics.

There's a snobbery at work in architecture. The subject is too often treated as a fine art, delicately wrapped in mumbo-jumbo. In reality, it's an all-embracing discipline taking in science, art, maths, engineering, climate, nature, politics, economics.

I didn't like university life much at Bologna. The subjects I studied - economics and business administration - didn't interest me. I wanted to make films. I was glad when I was graduated. Yet it's odd; on graduation day, I was overcome with a terrible sadness. I realized that my youth was over and now the struggle had begun.

The attempt to isolate economics from other disciplines-notably politics, history, philosophy, finance, constitutional theory and sociology-has fatally disabled its power to explain what is happening in the world.

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.

Companies that start by redesigning the economics of an industry often finish by redesigning the whole industry-and owning it.

Obama liberals, in their incalculable arrogance, believe they are smart enough to defy everything we know about human nature, economics and history by insisting on separating financial efforts from rewards and pretending this can bring prosperity.

I believe in market economics. But to paraphrase Churchill - who said this about democracy and political regimes - a market economy might be the worst economic regime available, apart from the alternatives. I believe that people react to incentives, that incentives matter, and that prices reflect the way things should be allocated. But I also believe that market economies sometimes have market failures, and when these occur, there's a role for prudential - not excessive - regulation of the financial system.

It was important to me to put together a future history that would scan, and serve as the backdrop to the domestic story. Economics is really what drives the plot.

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.

It's the economics, that's why opera is not dying but gets more and more difficult to put on.

The shortcomings of economics are not original error but uncorrected obsolescence. The obsolescence has occurred because what is convenient has become sacrosanct. Anyone who attacks such ideas must seem to be a trifle self-confident and even aggressive. The man who makes his entry by leaning against an infirm door gets an unjustified reputation for violence. Something is to be attributed to the poor state of the door.

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

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

I have been interested in visual arts since high school and, after realising that I had absolutely no interest in the economics degree I had undertaken at ANU, I started a BFA in Sydney which I completed at VCA in Melbourne.

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.

There is absolutely no single aspect of one's personality that is more important to develop than empathy, which is not a skill at which men typically are asked to excel. I believe empathy is not only the core of art, literature and music, but should also be at the core of society, from ethics to economics.

We say we are trying to buy into businesses with excellent economics, run by honest and able people at a decent price. We buy very few securities, so we look at it as "focused" investing.

As for us, He has appointed the job of permanent unemployment. If he wanted us to work, after all, He would not have created this wine. With a skinfull of this, Sir, would you rush out to commit economics?

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.

A citizen who casts his ballot without having to the best of his abilities studied as much economics as he can fails in his civic duties.

Consciousness permits us to develop the instruments of culture - morality and justice, religion, art, economics and politics, science and technology. Those instruments allow us some measure of freedom in the confrontation with nature.

Everyone in the United States is so intense about maintaining a separation between Church and State when the real concern should be about keeping a separation between Corporations and State--because in America (and most of the rest of the Western World, for that matter) economics is the real religion.

I'm constantly being courted by labels and their backing. Obviously the market is there when you talk about the economics and the numbers, but it's hard to give up the freedom of being able to do whatever you want.

It's not only possible, but likely that the Nobel Prize in economics will go in alternate years to people who disagree on nearly everything fundamental.

On one project I was hanging out with Brad Pitt, and Ryan Gosling, and Steve Carrel, and Christian Bale, and trying to explain economics to them for a movie I'm an advisor on.

The number of hypotheses and theories about climate change are numerous. Quite naturally they have caught the public attention, as any proof of past climactic change points to the possibility of future climate change, which inevitably will have significant implications for global economics.

If I could direct it [films] I would be very happy. But the economics of business don't always allow you to do what you want.

American influence in the world is certainly considerable, but the United States does not control, directly or indirectly, the politics and economics of other societies, as empires have always done, save for a few special cases that turn out to be the exceptions that prove the rule.

A large part of crime is economics - if people are working and and have a home and family to support, then I believe you can reduce the crime rate.

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.

Economics, politics, and personalities are often inseparable.

The fundamental flaw in Social Security and Medicare is that they violate the 'welfare principle' in economics. The welfare principle forms the fundamental basis of all charitable work in churches and other private organizations: assist those who need help, and equally important, don't assist individuals who can take care of themselves.

A lot of Democrats have said that raising the minimum wage is both good economics and good politics. The nonpartisan CBO issued a report today saying that raising the minimum wage to $10.10 an hour would cost the economy about 500,000 jobs...Why should we trust Democrats on anything when they couldn't have foreseen that this would be the case?

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

In economics, when you put together a highly elastic thing and a highly inelastic thing, you create extraordinary potential for turbulence, volatility, and for unstable prices.

In the 1980s, we were advised, why don't you follow Reaganomics or Thatcherite economics. We said, yes, there are good points, let's see how we can fit them in the Indian economy. Every country has its own way of moving forward.

I would love to see a debate on economics between Trump and Obama. Mr. 'Scholar,' Mr. Faculty Lounge Extraordinaire versus Mr. Real World Builder. I would love to see that. Obama wouldn't even get out his first sentence by the time Trump had given ten answers.