Quotes About Economics

Anyway that's a large part of what economics is - people arbitrarily, or as a matter of taste, assigning numerical values to non-numerical things. And then pretending that they haven't just made the numbers up, which they have. Economics is like astrology in that sense, except that economics serves to justify the current power structure, and so it has a lot of fervent believers among the powerful

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.

One of the profound effects of economics in our day is that the people with the money and the power have embraced the guilt-free, external-less, everything-will-turn-out-okay-in-the-end philosophy of economics in order to justify their own evil works. And the economists, for the most part, have sucked up to that money.

I've felt for some time that economics needs to be taught differently by economists who actually have had experience making a payroll or investing on Wall Street. When economics is taught by pure academics, watch out.

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

Conventions of generality and mathematical elegance may be just as much barriers to the attainment and diffusion of knowledge as may contentment with particularity and literary vagueness... It may well be that the slovenly and literary borderland between economics and sociology will be the most fruitful building ground during the years to come and that mathematical economics will remain too flawless in its perfection to be very fruitful.

Just as a poetic discussion of the weather is not meteorology, so an issuance of moral pronouncements or political creeds about the economy is not economics. Economics is a study of cause-and-effect relationships in an economy.

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

We do not need to understand economics in order to experience the benefits of freedom of exchange and production. But we may very well need to understand economics in order to sustain and maintain the institutional framework that enables us to realize the benefits that flow from freedom of exchange and production.

Software engineering economics.

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.

Everyone'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.

I'm very primitive in terms of economics. The kind of new business in which stock gets more valuable because the company grows, but there must be limits to growth. But if publishing is expanding to fill that retail space, it seems like there may be a necessary and unpleasant correction waiting down the road. How many books to people WANT?

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.

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.

Health is more than absence of disease; it is about economics, education, environment, empowerment, and community. The health and well being of the people is critically dependent upon the health system that serves them. It must provide the best possible health with the least disparities and respond equally well to everyone.

Over the long term, absent of other barriers, economics always win.

Today the logic goes something like this: 'Calling a ruler Son of God is out of style. No one really does that nowadays. We can support a president while also worshiping Jesus as the Son of God.' But how is this possible? For one says that we must love our enemies, and the other says we must kill them; one promotes the economics of competition, while the other admonishes the forgiveness of debts. To which do we pledge allegiance?

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

Behavioral economics can explain some things, but it's hard to explain a lot of the underlying processes that generate these decisions, much less some of these unconscious things that we don't have a handle on at all.

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

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.

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.

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

As an economics undergraduate, I also worked on a part-time basis in Cambridge, Massachusetts, for a company that was advising customers about portfolio decisions, writing reports.

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 more propaganda . . . conservatives spread for capitalist economics while at the same time preaching collectivism morally and philosophically , the more nails they’ll drive into capitalism’s coffin.

But my shift to the serious study of economics gradually weakened my belief in Major Douglas's A+B theorem, which was replaced in my thought by the expression MV = PT.

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.

I 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.

[Wise men] have tried to understand our state of being, by grasping at its stars, or its arts, or its economics. But, if there is an underlying oneness of all things, it does not matter where we begin, whether with stars, or laws of supply and demand, or frogs, or Napoleon Bonaparte. One measures a circle, beginning anywhere.

As 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.

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 haunted by more fallacies than any other study known to man

At the heart of capitalism is the unification of knowledge and power. As Friedrich Hayek, the leader of the Austrian school of economics, put it, "To assume all the knowledge to be given to a single mind... is to disregard everything that is important and significant in the real world." Because knowledge is dispersed, power must be as well.

I don't think money can be understood through a lens limited to economics. And most books about money tell you the history of money, the instrument. But money is also an idea, one that we exchange to survive.

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

The history of the Church has been a history of divisiveness, repression and reaction. For almost 2000 years, Christianity has held mankind back in politics, in economics, in industry, in science, in philosophy, in culture.

This is a guy [Steven Lerner] who believes, for example, that Reaganomics or trickle-down economics means, "The rich got rich by stealing from the poor," or stealing from the middle class and making them poor via debt. He has worked with unions in Europe.

I think there is universal agreement within the economics profession that the decline - the sharp decline in the quantity of money played a very major role in producing the Great Depression.

There can be no question, however, that prolonged commitment to mathematical exercises in economics can be damaging. It leads to the atrophy of judgement and intuition. . .

The orthodox doctrines of economics which were dominant in the last quarter of the nineteenth century had a clear message. They supported laisser faire, free trade, the gold standard, and the universally advantageous effects of the pursuit of profit by competitive private enterprise.

...even professors of economics, to say nothing of the public, do not generally have scientific minds.

I 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.

The use of mathematics has brought rigor to economics. Unfortunately, it has also brought mortis.