Economics Quotes - Page 2

Macroeconomics, even with all of our computers and with all of our information - is not an exact science and is incapable of being an exact science.

People are not embracing collectivism because they have accepted bad economics. They are accepting bad economics because they have embraced collectivism.

In a world in which the price of calculation continues to decrease rapidly, but the price of theorem proving continues to hold steady or increase, elementary economics indicates that we ought to spend a larger and larger fraction of our time on calculation.

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

Inflation is always and everywhere a monetary phenomenon.

Supply creates its own demand.

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

If you don't own Gold, you know neither history nor economics.

The consequences for human welfare involved in questions about human capital spillovers are simply staggering. Once one starts to think about them, it's hard to think of anything else

Everyone has the right to make his own decisions, but none has the right to force his decision on others.

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

The first essential for economists ... is to ... combat, not foster, the ideology which pretends that values which can be measured in terms of money are the only ones that ought to count.

We've had trickle down economics in the country for ten years now, and most of us aren't even damp yet.

In economics, hope and faith coexist with great scientific pretension and also a deep desire for respectability.

Climate change: Don't undermine the science just because you don't like the economics

The lesson from behavioral economics is that people only save if it's automatic.

The consequences for human welfare involved in questions like these are simply staggering: once one starts to think about them, it is hard to think about anything else.

Nobody spends somebody else's money as carefully as he spends his own.

Often the masses are plundered and do not know it.

Protectionism is the institutionalization of economic failure.

Economic progress, in capitalist society, means turmoil.

The point of studying economics is so as not to be fooled by economists.

Economics has been called the dismal science. Once you get to understand it, you may not find it so dismal, but you don't find it much of a science either.

A merchant, it has been said very properly, is not necessarily the citizen of any particular country.

The best of all monopoly profits is a quiet life.