Economics Quotes

Economics Quote of the day

It is hard to imagine a more stupid or more dangerous way of making decisions than by putting those decisions in the hands of people who pay no price for being wrong.

If socialists understood economics, they wouldn't be socialist.

The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.

A society can be Pareto optimal and still perfectly disgusting.

The purpose of studying economics is not to acquire a set of ready-made answers to economic questions, but to learn how to avoid being deceived by economists.

Don't let anybody tell you it's corporations and businesses that create jobs.

It is easy to be conspicuously 'compassionate' if others are being forced to pay the cost.

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.

If one person has a right to something he did not earn, of necessity it requires that another person not have a right to something that he did earn.

Democracy is a pathetic belief in the collective wisdom of individual ignorance.

[E]conomic history is a long record of government policies that failed because they were designed with a bold disregard for the laws of economics

A nation is not made wealthy by the childish accumulation of shiny metals, but it enriched by the economic prosperity of it's people.

Never treat your audience as customers, always as partners.

There’s class warfare, all right, but it’s my class, the rich class, that’s making war, and we’re winning.

The first lesson of economics is scarcity: there is never enough of anything to fully satisfy all those who want it. The first lesson of politics is to disregard the first lesson of economics.

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.

Institutionalized rejection of difference is an absolute necessity in a profit economy which needs outsiders as surplus people.

The moment is ripe for an experienced businessman to talk practical, prudent economics to the electorate - which is why Mitt Romney's political fortunes are steadily being resurrected from the grave.

Inflation is when you pay fifteen dollars for the ten-dollar haircut you used to get for five dollars when you had hair.

Home Economics stands for the ideal home life for today unhampered by the traditions of the past and the utilization of all the resources of modern science to improve home life.

There was never anything so well devised by men which in continuance of time hath not been corrupted

History, sociology, economics, psychology et al. confirmed Joyce's view of Everyman as victim.

How sad to see a father with money and no joy. The man studied economics, but never studied happiness.

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

Big-government economics breeds crony capitalism. It's corrupt, anything but neutral, and a barrier to broad participation in prosperity.

An economist is an expert who will know tomorrow why the things he predicted yesterday didn't happen today.

Leadership produces change. That is its primary function

Let us remember that the automatic machine is the precise economic equivalent of slave labor. Any labor which competes with slave labor must accept the economic consequences of slave labor.

But there is merit even in the mentally retarded legislator. He asks the questions that everyone is afraid to ask for fear of seeming simple.

Economics is extremely useful as a form of employment for economists.

Economics is like the Dutch language - I'm told it makes sense, but I have my doubts.

The essential point to grasp is that in dealing with capitalism we are dealing with an evolutionary process

Remember, aid cannot achieve the end of poverty. Only homegrown development base on the dynamism of individuals and firms in free markets can do that.

Neither a state nor a bank ever have had unrestricted power of issuing paper money without abusing that power.

Political Economy or Economics is a study of mankind in the ordinary business of life.

We believe that economics does not necessarily have to be a zero-sum game; it can be a win-win proposition for everyone involved so long as they have the tools in which to succeed.

Every time you spend money, you're casting a vote for the kind of world you want.

...it is distressing how often one can guess the answer given to an economic question merely by knowing who asks it.

There must have been something in the air of Gary that led one into economics: the first Nobel Prize winner, Paul Samuelson, was also from Gary, as were several other distinguished economists.

As the Wall Street Journal called our economic plan, supply-side economics for the working man, is resonating in Minnesota and here in Missouri and across this country.

Obviousness is always the enemy of correctness.

All public resources go to the rich. The poor, if they can survive in the labor market, fine. Otherwise, they die. That's economics in a nutshell.

While I am interested both in economics and in philosophy, the union of my interests in the two fields far exceeds their intersection.

The budget should be balanced not by more taxes, but by reduction of follies.

It is in war that the State really comes into its own: swelling in power, in number, in pride, in absolute dominion over the economy and the society.

Ask five economists and you'll get five different answers - six if one went to Harvard.

[A] great embarrassing fact… haunts all attempts to represent the market as the highest form of human freedom: that historically, impersonal, commercial markets originate in theft.

Economics teaches humility because it teaches us more about what we can't do than what we can do

Be thrifty, but not covetous.

Food is a product of supply and demand, so try to figure out where the supplies are fresh, the suppliers are creative, and the demanders are informed.