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 am practical by nature, and I'd heard that being a writer or an artist is a good way to starve! So I was an economics major at Oklahoma State, and then received an M.S. from Cornell in Agricultural Resource and Managerial Economics. I knew if I wanted to write I would do it on my own, but I knew I wouldn't make myself study economics on my own.

Economics and politics are so intertwined and interlinked that politics now, mainstream politics, extreme center politics, are little else but a version of concentrated economics. And this means that any alternative - alternative capitalism, left Keynesianism, intervention by the state to help the poor, rolling back the privatizations - becomes a huge issue. The entire weight of the extreme center and its media is turned against it, which in reality now is beginning to harm democracy.

The 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.

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.

My job was to teach the whole corpus of economic theory, but there were two subjects in which I was especially interested, namely, the economics of mass unemployment and international 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.

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.

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.

Investing is the intersection of economics and psychology. The analysis is actually the easy part. The economics, the valuation of the business isn't that hard. The psychology - how much do you buy, do you buy it at this price, do you wait for a lower price, what do you do when it looks like the world might end - those things are harder. Knowing whether you stand there, buy more, or whether something has legitimately gone wrong and you need to sell, those are harder things. That you learn with experience, by having the right psychological makeup.

I feel like there's lot of people who know finance and economics better than I do. There are lots of people who are better storytellers than I am. But the space that I occupy of storytelling about finance and economics is - more people want it than can do it.

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

Mathematical economics is old enough to be respectable, but not all economists respect it. It has powerful supporters and impressive testimonials, yet many capable economists deny that mathematics, except as a shorthand or expository device, can be applied to economic reasoning. There have even been rumors that mathematics is used in economics (and in other social sciences) either for the deliberate purpose of mystification or to confer dignity upon common places as French was once used in diplomatic communications.

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.

It is no crime to be ignorant of economics, which is, after all, a specialized discipline and one that most people consider to be a ‘dismal science.’ But it is totally irresponsible to have a loud and vociferous opinion on economic subjects while remaining in this state of ignorance.

Look at the declining television coverage. Look at the declining voting rate. Economics and economic news is what moves the country now, not 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.

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.

However, I have a low opinion of people with narrow political horizons. Someone who talks about the environment and knows nothing about economics can make as many mistakes as someone who does the opposite.

If you don’t want to cry about the state of the economy, why not laugh instead? This book is an ideal introduction to the subject for anybody who thinks they ought to understand what’s happening around them but is put off by the usual dense text and economics jargon.

No 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.

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.

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.

In the great depression, things could only be set right by causing the idle plant to work again . . . Roosevelt . . . spent billions of public money and created a huge public debt, but by so doing he revived production and brought his country out of the depression. Businessmen, who in spite of such a sharp lesson continued to believe in old-fashioned economics, were infinitely shocked, and although Roosevelt saved them from ruin, they continued to curse him and to speak of him as 'the madman in the White House.' . . . [It's one more] striking example of inability to learn from experience.

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.

Economics 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.

David Boaz has been my guide to the history, economics, and politics of freedom for years.

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

Economics is (now) about emotion and psychology.

Economics works great for planning your life when you don't have a work passion, since we tend to assume that your job delivers only money and you trade off job hours with leisure hours. If you think your job will just be a job, pick one that pays well per hour and leaves you some time off, even if the activity of the job is boring.

In human life, economics precedes politics or culture.

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

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 that virtually every career is an option for ambitious girls, it can no longer be considered regressive or reactionary to reintroduce discussion of marriage and motherhood to primary education. We certainly do not want to return to the simplistic duality of home economics classes for girls and wood shop for boys.

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.

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!

I 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.

Economics is haunted by more fallacies than any other study known to man

Much of what Tea Party candidates claimed about the world and the global economy during the 2010 elections would have earned their adherents a well-deserved F in any freshman economics (or earth science) class.

Every sacred cow in the business has to do with economics.

I think economics is about passion. Economic progress, whether it is a two-person coffee shop or whether it is Netscape, is about people with brave ideas. Because it is brave to mortgage the house, when you've got two kids, to start a coffee shop.

With respect to teaching, I couldn't make sense of mainstream economics when I had to teach it to college students. At the same time, I could see at the school that there was a whole lot of hypocrisy. Not much real respect for the "higher learning."

The better the script, the less money there is. That's just the economics of the studio system.

Economics is not an attempt to generalize human desires or human behavior; but to generalize the phenomena of price.

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.

There's something really special for a young person to sit in an audience and discover somebody, and it's rare to do because so much of a movie's economics are based on pre-existing actors or actresses.

For in the theoretical field bourgeois economics no longer engages in blithe and joyous fights.