Quotes About Economics

Quotes tagged as "economics" (showing 1-30 of 909)
Terry Pratchett
“The reason that the rich were so rich, Vimes reasoned, was because they managed to spend less money.

Take boots, for example. He earned thirty-eight dollars a month plus allowances. A really good pair of leather boots cost fifty dollars. But an affordable pair of boots, which were sort of OK for a season or two and then leaked like hell when the cardboard gave out, cost about ten dollars. Those were the kind of boots Vimes always bought, and wore until the soles were so thin that he could tell where he was in Ankh-Morpork on a foggy night by the feel of the cobbles.

But the thing was that good boots lasted for years and years. A man who could afford fifty dollars had a pair of boots that'd still be keeping his feet dry in ten years' time, while the poor man who could only afford cheap boots would have spent a hundred dollars on boots in the same time and would still have wet feet.

This was the Captain Samuel Vimes 'Boots' theory of socioeconomic unfairness.”
Terry Pratchett, Men at Arms: The Play

“There ain't no such thing as a free lunch.”
Pierre Dos Utt, Tanstaafl: A Plan for a New Economic World Order

Wendell Berry
“The complexity of our present trouble suggests as never before that we need to change our present concept of education. Education is not properly an industry, and its proper use is not to serve industries, either by job-training or by industry-subsidized research. It's proper use is to enable citizens to live lives that are economically, politically, socially, and culturally responsible. This cannot be done by gathering or "accessing" what we now call "information" - which is to say facts without context and therefore without priority. A proper education enables young people to put their lives in order, which means knowing what things are more important than other things; it means putting first things first.”
Wendell Berry

Murray N. Rothbard
“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.”
Murray N. Rothbard

Nassim Nicholas Taleb
“It has been more profitable for us to bind together in the wrong direction than to be alone in the right one. Those who have followed the assertive idiot rather than the introspective wise person have passed us some of their genes. This is apparent from a social pathology: psychopaths rally followers.”
Nassim Nicholas Taleb, The Black Swan: The Impact of the Highly Improbable

Milton Friedman
“Now here's somebody who wants to smoke a marijuana cigarette. If he's caught, he goes to jail. Now is that moral? Is that proper? I think it's absolutely disgraceful that our government, supposed to be our government, should be in the position of converting people who are not harming others into criminals, of destroying their lives, putting them in jail. That's the issue to me. The economic issue comes in only for explaining why it has those effects. But the economic reasons are not the reasons”
Milton Friedman

John Maynard Keynes
“The ideas of economists and political philosophers, both when they are right and when they are wrong are more powerful than is commonly understood. Indeed, the world is ruled by little else. Practical men, who believe themselves to be quite exempt from any intellectual influences, are usually slaves of some defunct economist.”
John Maynard Keynes

John Maynard Keynes
“If you owe your bank a hundred pounds, you have a problem. But if you owe a million, it has.”
John Maynard Keynes

John F. Kennedy
“The time to repair the roof is when the sun is shining.

[State of the Union Address January 11 1962]
John F. Kennedy

John Green
“One of the Great Rules of Economics According to John Green
If you are rich, you have to be an idiot not to stay rich. And if you are poor, you have to be really smart to get rich.”
John Green

Tom Robbins
“Look, America is no more a democracy than Russia is a Communist state. The governments of the U.S. and Russia are practically the same. There's only a difference of degree. We both have the same basic form of government: economic totalitarianism. In other words, the settlement to all questions, the solutions to all issues are determined not by what will make the people most healthy and happy in the bodies and their minds but by economics. Dollars or rubles. Economy uber alles. Let nothing interfere with economic growth, even though that growth is castrating truth, poisoning beauty, turning a continent into a shit-heap and riving an entire civilization insane. Don't spill the Coca-Cola, boys, and keep those monthly payments coming.”
Tom Robbins, Another Roadside Attraction

Franklin D. Roosevelt
“We have always known that heedless self interest was bad morals, we now know that it is bad economics.”
Franklin D. Roosevelt

John Perkins
“The United States spends over $87 billion conducting a war in Iraq while the United Nations estimates that for less than half that amount we could provide clean water, adequate diets, sanitations services and basic education to every person on the planet. And we wonder why terrorists attack us.”
John Perkins, Confessions of an Economic Hit Man

Ha-Joon Chang
“Once you realize that trickle-down economics does not work, you will see the excessive tax cuts for the rich as what they are -- a simple upward redistribution of income, rather than a way to make all of us richer, as we were told.”
Ha-Joon Chang, 23 Things They Don't Tell You About Capitalism

“America is the greatest engine of innovation that has ever existed, and it can't be duplicated anytime soon, because it is the product of a multitude of factors: extreme freedom of thought, an emphasis on independent thinking, a steady immigration of new minds, a risk-taking culture with no stigma attached to trying and failing, a noncorrupt bureaucracy, and financial markets and a venture capital system that are unrivaled at taking new ideas and turning them into global products.”
Thomas L. Friedman

Muhammad Yunus
“People.. were poor not because they were stupid or lazy. They worked all day long, doing complex physical tasks. They were poor because the financial institution in the country did not help them widen their economic base.”
Muhammad Yunus, Banker to the Poor: Micro-Lending and the Battle Against World Poverty

Adam Smith
“In regards to the price of commodities, the rise of wages operates as simple interest does, the rise of profit operates like compound interest.

Our merchants and masters complain much of the bad effects of high wages in raising the price and lessening the sale of goods. They say nothing concerning the bad effects of high profits. They are silent with regard to the pernicious effects of their own gains. They complain only of those of other people.”
Adam Smith, The Wealth of Nations

Mark Bittman
“1 billion people in the world are chronically hungry. 1 billion people are overweight.”
Mark Bittman, Food Matters: A Guide to Conscious Eating with More Than 75 Recipes

Adam Smith
“People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices.”
Adam Smith, The Wealth of Nations

Friedrich A. Hayek
“It is true that the virtues which are less esteemed and practiced now--independence, self-reliance, and the willingness to bear risks, the readiness to back one's own conviction against a majority, and the willingness to voluntary cooperation with one's neighbors--are essentially those on which the of an individualist society rests. Collectivism has nothing to put in their place, and in so far as it already has destroyed then it has left a void filled by nothing but the demand for obedience and the compulsion of the individual to what is collectively decided to be good.”
Friedrich A. Hayek, The Road to Serfdom

Ursula K. Le Guin
“He tried to read an elementary economics text; it bored him past endurance, it was like listening to somebody interminably recounting a long and stupid dream. He could not force himself to understand how banks functioned and so forth, because all the operations of capitalism were as meaningless to him as the rites of a primitive religion, as barbaric, as elaborate, and as unnecessary. In a human sacrifice to deity there might be at least a mistaken and terrible beauty; in the rites of the moneychangers, where greed, laziness, and envy were assumed to move all men's acts, even the terrible became banal.”
Ursula K. Le Guin, The Dispossessed

Friedrich A. Hayek
“Our faith in freedom does not rest on the foreseeable results in particular circumstances but on the belief that it will, on balance, release more forces for the good than for the bad.”
Friedrich A. Hayek

Milton Friedman
“There is one and only one social responsibility of business–to use it resources and engage in activities designed to increase its profits so long as it stays within the rules of the game, which is to say, engages in open and free competition without deception or fraud”
Milton Friedman

Ludwig von Mises
“The Marxians love of democratic institutions was a stratagem only, a pious fraud for the deception of the masses. Within a socialist community there is no room left for freedom.”
Ludwig von Mises

Kenneth E. Boulding
“Anyone who believes that exponential growth can go on forever in a finite world is either a madman or an economist.”
Kenneth E. Boulding

Ludwig von Mises
“Under capitalism the common man enjoys amenities which in ages gone by were unknown and therefore inaccessible even to the richest people. But, of course, these motorcars, television sets and refrigerators do not make a man happy. In the instant in which he acquires them, he may feel happier than he did before. But as soon as some of his wishes are satisfied, new wishes spring up. Such is human nature.”
Ludwig von Mises, The Anti-Capitalistic Mentality

Murray N. Rothbard
“It’s true: greed has had a very bad press. I frankly don’t see anything wrong with greed. I think that the people who are always attacking greed would be more consistent with their position if they refused their next salary increase. I don’t see even the most Left-Wing scholar in this country scornfully burning his salary check. In other words, "greed" simply means that you are trying to relieve the nature given scarcity that man was born with. Greed will continue until the Garden of Eden arrives, when everything is superabundant, and we don’t have to worry about economics at all. We haven’t of course reached that point yet; we haven’t reached the point where everybody is burning his salary increases, or salary checks in general.”
Murray N. Rothbard

Friedrich A. Hayek
“I was quite depressed two weeks ago when I spent an afternoon at Brentano's Bookshop in New York and was looking at the kind of books most people read. Once you see that you lose all hope.”
Friedrich A. Hayek

Friedrich A. Hayek
“Freedom to order our own conduct in the sphere where material circumstances force a choice upon us, and responsibility for the arrangement of our own life according to our own conscience, is the air in which alone moral sense grows and in which moral values are daily recreated in the free decision of the individual. Responsibility, not to a superior, but to one's own conscience, the awareness of a duty not exacted by compulsion, the necessity to decide which of the things one values are to be sacrificed to others, and to bear the consequences of one's own decision, are the very essence of any morals which deserve the name.”
Friedrich A. Hayek, The Road to Serfdom

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