Quotes About Economics

People are not embracing collectivism because they have accepted bad economics. They are accepting bad economics because they have embraced collectivism.

Our economics are not baseball's economics. Our game is not baseball's game. Our owners are not baseball's owners, with one or two exceptions. Our union is not baseball's union. What we do has to be crafted and suited to address hockey, to address the NHL, to address our 30 teams and our 700-plus players.

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.

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.

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.

The problem is a lot of what is called economics is not economics. It is more ideology or religion.

Thus we seem to be on the verge of an expansion of welfare economics into something like a social science of ethics and politics: what was intended to be a mere porch to ethics is either the whole house or nothing at all. In so laying down its life welfare economics may be able to contribute some of its insights and analytical methods to a much broader evaluative analysis of the whole social process.

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.

Economics is really politics in disguise.

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.

There is economics in biology, nothing is free, everything has to be paid for, there are costs as well as benefits to everything in life, for example, there was never sufficient natural selection pressure to develop better eyes, individuals could earn other things like smiley smiles rather than waste energy & time on better eyes.

A study of economics usually reveals that the best time to buy anything is last year.

We need to move beyond the demonisation of overpaid traders ... In finance and economics, ill-designed policy is a more powerful force for harm than individual greed or error.

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.

Neoclassical economics insists that advertising cannot force consumers to buy anything they don't already want to buy.

I think that local school districts - not the federal government - should make the decision about how they teach science, biology, economics. I want my kids to be taught about evolution; I want my kids to be taught about other theories.

Regardless of past aspirations, this is the right time to be focusing on services for two specific reasons The increasing ubiquity of broadband has made it viable, and the proven economics of the advertising model has made it profitable.

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.

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

The Nobel Prize confers on an individual an authority which in economics no man ought to possess.

In 1997, we faced daunting challenges. Boom and bust economics..... Now, for all that remains to be done, dwell for a moment on what has been achieved.

I have concluded that most PhD economists under appraise the power of the common-stock-based "wealth effect," under current extreme conditions... "Wealth effects" involve mathematical puzzles that are not nearly so well worked out as physics theories and never can be... What has happened in Japan over roughly the last ten years has shaken up academic economics, as it obviously should, creating strong worries about recession from "wealth effects" in reverse.

Economics is (now) about emotion and psychology.

In economics, hope and faith coexist with great scientific pretension and also a deep desire for respectability.

The 20th Century approach to economics, resource depletion and over-consumption means we boom and bust until we bust more than we boom; that is precisely what is happening. In a low growth economy, the true meaning of resource efficiency in business and in everything we do is essential

Some of the most serious fallacies of traditional economics have been due to confusion between optimum and equilibrium conditions; the apparent influence of Dr. Pangloss upon the development of economic thought is for the most part nothing but pure intellectual error.

Economics is a social science, not a physical science.

There is no single theory that is used in economics that considers the finite nature of resources. It's shocking.

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

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.

One of the big lessons from behavioral economics is that we make decisions as a function of the environment that we're in.

Economics becomes redundant if it can rationalise an exchange that sells the future of humankind.

I think that the use of copyright is going to change dramatically. Part of it is economics. There is just going to be so much content out there - there's a scarcity of attention. Information consumes attention, and there's too much information.

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.

Keynes was a great economist. In every discipline, progress comes from people who make hypotheses, most of which turn out to be wrong, but all of which ultimately point to the right answer. Now Keynes, in 'The General Theory of Employment, Interest and Money,' set forth a hypothesis which was a beautiful one, and it really altered the shape of economics. But it turned out that it was a wrong hypothesis. That doesn't mean that he wasn't a great man!

[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.

So long as I confine my activities to social service and the blind, they compliment me extravagantly, calling me 'arch priestess of the sightless,' 'wonder woman,' and a 'modern miracle.' But when it comes to a discussion of poverty, and I maintain that it is the result of wrong economics-that the industrial system under which we live is at the root of much of the physical deafness and blindness in the world-that is a different matter!

The future of life on earth depends on our ability to take action. Many individuals are doing what they can, but real success can only come if there's a change in our societies and our economics and in our politics. I've been lucky in my lifetime to see some of the greatest spectacles that the natural world has to offer. Surely we have a responsibility to leave for future generations a planet that is healthy, inhabitable by all species

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.

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

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 is not a science, in the sense that a policy can be repeatedly applied under similar conditions and will repeatedly produce similar results.

Economics teaches humility because it teaches us more about what we can't do than what we can do

My response [to fear of being poor]was to study contracts, finance, economics, to plan, to have a goal, to work on that goal. To learn everything I could. I always poked at the things that scared me most.

The inscrutability [of economics] is perhaps not unintentional. It gives endless employment to dialecticians who otherwise might become public charges or, at very worst, swindlers and tricksters.

And religion causes most of the problems, war, and economics of course, and study your history or you're going to repeat it; and if you're burning a Harry Potter book you need some serious counseling, you don't get it, you're missing the whole point.

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.

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