Economics Quotes - Page 5

Economics is not a morality play.

How could economics not be behavioral? If it isn't behavioral, what the hell is it?

[U]nemployment is ... a side effect of the cure for inflation.

In proportion as capital accumulates, the lot of the laborer, be his payment high or low, must grow worse.

observation of realities has never, to put it mildly, been one of the strengths of economic development theory.

Contrary to economists' beliefs, the informal sectors of the world's economies, in total, are predominant, and the institutionalized, monetized sectors grow out of them and rest upon them, rather than the reverse.

Economic controversy is generally a thankless task. You cannot hope to make any impression on your opponent. Yet he is the only reader on whose interest you can count.

Economic activity is carried out by individuals in organisations that require a high degree of social co-operation

You can always get sympathy by using the word small. With little industries you feel as you do about a little puppy.

Economists are about as useful as astrologers in predicting the future (and, like astrologers, they never let failure on one occasion diminish certitude on the next).

The barriers that renewables and efficiency face come less from our living in a capitalist market economy and more from not taking market economics seriously.

Goods can serve many other purposes besides purchasing money, but money can serve no other purpose besides purchasing goods.

The theory which follows is entirely based on a calculus of pleasure and pain; and the object of economics is to maximize happiness by purchasing pleasure, as it were, at the lowest cost of pain.

Trickle down economics creates a nation of peons.

The single biggest issue that I'm very sensitive to is inflation. I'm very concerned that this extended period where the interest rates were quite low and stimulated a lot of activity could breed inflation and create a problem for us.

Mathematics has given economics rigor, but alas, also mortis.

In the history of modern capitalism, crises are the norm, not the exception.

The economics of industrialized countries would collapse if women didn't do the work they do for free: According to economist Marilyn Waring, throughout the West it generates between 25 and 40 percent of the gross national product.

I am not sure of anything, I know nothing . . . can you imagine that I don't even know the date of my own death?

Economics was the only profession where a person could be considered an expert without having once been right.

I must confess that if I had been consulted whether to establish a Nobel Prize in economics, I should have decidedly advised against it.

Economics departments are dominated by Marxism, which is taken straight or on the rocks, in the form of Keynesianism.

A hundred times every day I remind myself that my inner and outer life are based on the labors of others.

It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.

The most basic law of economics?that one cannot get something for nothing.