Quotes About Economics

My mother and my father taught me to look at the actual problem, not the face of it, not the veneer of it. So for me, I was never - I was impressed that it - racially, I was impressed, right, but now in America it's about economics, and it's been about economics, and honestly, everything's been about economics since I don't want to say the beginning of time, but it's been about economics for a long while.

I think historically modern economics, capitalist economics, tends to erode moral categories... And this is where I think the right gets capitalism wrong. They kind of assume that there is a moral equivalence or moral valence to capitalism, but I tend to think that economics erodes all the kind of cultural taboos and inhibitions and values it comes into contact with.

Interestingly, human irrationality is a hot topic in economics at the moment. Behavioural economics it's called, on the cusp of economics and psychology.

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

Economists get very uncomfortable when you talk about virtue and vice. It doesn't lend itself to a lot of columns with numbers. But I would argue that there are big virtue effects in economics. I would say that the spreading of double-entry bookkeeping by the Monk, Fra Luce de Pacioli, was a big virtue effect in economics. It made business more controllable, and it made it more honest.

I think corporations should give more attention to this suffering and should wait to invest until there is a responsible government in Burma. I do not think it is a good idea to separate economics from politics; in fact, I do not think economics can be separated from politics It's quite understandable that many business concerns think only about their own profits It's up to the public to put as much pressure as it can on these companies, through shareholder resolutions and public actions.

All of the problems we're facing with debt are manmade problems. We created them. It's called fantasy economics. Fantasy economics only works in a fantasy world. It doesn't work in reality.

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.

Mainstream economics scholarship produces theory without facts ("pure theory") and facts without theory ("applied economics").

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.

It is clear that Economics, if it is to be a science at all, must be a mathematical science ... simply because it deals with quantities... As the complete theory of almost every other science involves the use of calculus, so we cannot have a true theory of Economics without its aid.

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'.

Economics anxiety may be even more common than the often identified 'math anxiety,' for unlike math, which has its personal uses, economics is seen as a mysterious set of forces manipulated from above.

History shows that where ethics and economics come in conflict, victory is always with economics.

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.

Fascism entirely agrees with Mr. Maynard Keynes, despite the latter's prominent position as a Liberal. In fact, Mr. Keynes' excellent little book, The End of Laissez-Faire (1926) might, so far as it goes, serve as a useful introduction to fascist economics. There is scarcely anything to object to in it and there is much to applaud.

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.

Many individuals are doing what they can. But real success can only come if there is a change in our societies and in our economics and in our politics.

Economics is a very difficult subject. I've compared it to trying to learn how to repair a car when the engine is running.

The first proponent of cortical memory networks on a major scale was neither a neuroscientist nor a computer scientist but .. a Viennes economist: Friedrich von Hayek (1899-1992). A man of exceptionally broad knowledge and profound insight into the operation of complex systems, Hayek applied such insight with remarkable success to economics (Nobel Prize, 1974), sociology, political science, jurisprudence, evolutionary theory, psychology, and brain science (Hayek, 1952).

The Pope appeals for disinterested solidarity and for a return to person-centred ethics in the world of finance and economics.

Science is not enough, religion is not enough, art is not enough, politics and economics are not enough, nor is love, nor is duty, nor is action however disinterested, nor, however sublime, is contemplation. Nothing short of everything, will really do.

When you as a designer design something that burdens a community with maintenance and old world technology, basically failed developed world technology then you will crush that community way beyond bad design; you'll destroy the economics of that community and often the community socially is broken.

The very nature of economics is rooted in nationalism. ... It [was] developed ... in the hope of throwing light upon questions of policy. But policy means nothing unless there is an authority to carry it out, and authorities are national.

The most powerful argument of all for saving open space is economics; in most states, tourism is the number two industry.

It took the national debt two hundred years to reach $1 trillion. Supply Side Economics quadrupled the national debt to over $4 trillion in twelve years (1980-1992) under the Republicans. Bill Clinton actually paid down the national debt. How did he do it? He raised taxes. It produced the longest sustained economic expansion in U.S. History.

Since I was a law student, I have been against the death penalty. It does not deter. It is severely discriminatory against minorities, especially since they're given no competent legal counsel defense in many cases. It's a system that has to be perfect. You cannot execute one innocent person. No system is perfect. And to top it off, for those of you who are interested in the economics it, it costs more to pursue a capital case toward execution than it does to have full life imprisonment without parole.

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

If you look at the economics of Nokia roughly half of the company, half of the business, half of how we think about the business is focused on those emerging markets and on those lower-priced devices. But, of course, people who are aspirational and buying those lower-priced devices today are looking at smart phones tomorrow, and so forth.

I think I developed a culture of healthy skepticism of claims of certainty on any side of the aisle. A sort of boldness in using economics no matter where it leads you in political circles, you know, rather than worrying about being left-wing or right-wing or biased or this or that.

Reader, you forget that economics precedes religion; worship grew out of eating, not the other way around.

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.

In the field of economics we maintain to this day some of the most primitive ideas, some of the most radically false ideas, some of the most absurd ideas a brain can hold. ... but all this give no uneasiness to the average brain. That long-suffering organ has been trained for more thousands of years than history can uncover to hold in unquestioning patience great blocks of irrelevant idiocy and large active lies.

I 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.

Where there is politics or economics, there is no morality.

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

Economics is a social science, not a physical science.

We have always known that heedless self interest was bad morals, we now know that it is bad economics.

Every nation on the Earth that embraces market economics and the free enterprise system is pulling millions of its people out of poverty. The free enterprise system creates prosperity, not denies it.

I founded Atari in my garage in Santa Clara while at Stanford. When I was in school, I took a lot of business classes. I was really fascinated by economics. You end up having to be a marketeer, finance maven and a little bit of a technologist in order to get a business going.

Now there are heavy houses everywhere and more of them are being built. In fact, it is only when more houses are being constructed that some countries consider their economics healthy. Yet each house is a heavy footprint on the Earth. Just as all our possessions represent-if we cannot learn ways of sharing them-a weight and clutter that often means the faces of future generations will look up into darkness and the pressure on the Earth of "things."

There is no such thing as economics, only social science applied to economic problems.

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

Good 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.

Economists treat economics as if it is a pure science divorced from the facts of life. The result of this false accountancy is a willful confusion under cover of which industry wreaks its havoc scot-free and ignores the environmental cost.

Probably the only people left who think that economics deserves a Nobel Prize are economists. It confirms their conceit that they're doing 'science' rather than the less tidy task of observing the world and trying to make sense of it. This, after all, is done by mere historians, political scientists, anthropologists, sociologists, and (heaven forbid) even journalists. Economists are loath to admit that they belong in such raffish company.

Economics, as it has emerged, can be made more productive by paying greater and more explicit attention to the ethical considerations that shape human behaviour and judgment.

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