Armchair Economist Quotes

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Armchair Economist: Economics & Everyday Life Armchair Economist: Economics & Everyday Life by Steven E. Landsburg
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Armchair Economist Quotes Showing 1-12 of 12
“Selling is a painful necessity, buying is what makes it all worthwhile.”
Steven E. Landsburg, Armchair Economist: Economics & Everyday Life
“[Economics] is all about observing the world with genuine curiosity and admitting that it is full of mysteries”
Steven E. Landsburg, Armchair Economist: Economics & Everyday Life
“Most of economics can be summarized in four words: “People respond to incentives.” The rest is commentary.”
Steven E. Landsburg, Armchair Economist: Economics And Everyday Experience
“When I find a pair of pants I like, I buy a lot of them. Really a lot. Perhaps there’s something genetic here; I collect pants like my Uncle Morris collected meat. I do this because pants wear out. Is this part of a plot by the clothing manufacturers to keep us buying more? Some people think so. In my Sound and Fury file, I find an old (September 20, 1982) Ann Landers column about pantyhose manufacturers who deliberately create products that self-destruct after a week instead of a year because “the no-run nylons, which they know how to make, would put a serious crimp in their sales.” Ann concludes that she and her readers are “at the mercy of a conspiracy of self-interest.” One wonders whose self-interest Ann has in mind. Surely it’s not the manufacturers’. If there were a cost-justified way to do it, any self-interested manufacturer would switch from selling one-week nylons at $1 to selling one-year nylons at $52. That pleases the customers (whose pantyhose budget doesn’t change but who make fewer trips to the store), maintains the manufacturer’s revenue, and—because he produces about 98 percent fewer nylons—cuts his costs considerably.”
Steven E. Landsburg, Armchair Economist: Economics And Everyday Experience
“Why am I permitted to apply racial criteria when I select a spouse but not when I select a personal assistant?”
Steven E. Landsburg, Armchair Economist: Economics And Everyday Experience
“discussion: Do I agree that with privilege comes responsibility? The answer is no. I believe that responsibilities arise when one undertakes them voluntarily. I also believe that in the absence of explicit contracts, people who lecture other people on their “responsibilities” are almost always up to no good.”
Steven E. Landsburg, Armchair Economist: Economics And Everyday Experience
“A low current stock price forecasts a low future price. If today’s price is low, there is a good reason to buy more (it’s cheap) and also a good reason to buy less (it’s likely to stay cheap). The two reasons cancel out and make “buying more when the price is low” no more attractive than “buying more when the price is high.”
Steven E. Landsburg, Armchair Economist: Economics And Everyday Experience
“Freakonomics is out to dazzle you with facts; The Armchair Economist is out to dazzle you with logic.”
Steven E. Landsburg, Armchair Economist: Economics And Everyday Experience
“Of course, ideas can always be misleading—but then so can numbers. Still, we advance by learning new ways to think, even if those ways are not infallible. Much”
Steven E. Landsburg, Armchair Economist: Economics And Everyday Experience
“The governing principle is precisely the same one that predicts behavior at the gas pump. When the price of gasoline is low, people choose to buy more gasoline. When the price of accidents (e.g., the probability of being killed or the expected medical bill) is low, people choose to have more accidents. You”
Steven E. Landsburg, Armchair Economist: Economics And Everyday Experience
“Among college students, economics and philosophy majors have similar current incomes, but it’s the economics students who drive cars, because it’s the economics students who expect to have jobs someday.”
Steven E. Landsburg, Armchair Economist: Economics And Everyday Experience
“Logic matters. It leads us from simple ideas to surprising conclusions.”
Steven E. Landsburg, Armchair Economist: Economics And Everyday Experience