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Terms Of Service
Quotes by Economists
It takes considerable knowledge just to realize the extent of your own ignorance.
We have a system that increasingly taxes work and subsidizes nonwork.
It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest.
Politics is the art of choosing between the disastrous and the unpalatable.
John Kenneth Galbraith
Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone.
John Maynard Keynes
The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.
Friedrich August von Hayek
Corruption, embezzlement, fraud, these are all characteristics which exist everywhere. It is regrettably the way human nature functions, whether we like it or not. What successful economies do is keep it to a minimum. No one has ever eliminated any of that stuff.
Power is the chance to impose your will within a social context, even when opposed and regardless of the integrity of that chance.
While the seeming independence of the federal judiciary has played a vital part in making its actions virtual Holy Writ for the bulk of the people, it is also and ever true that the judiciary is part and parcel of the government apparatus and appointed by the executive and legislative branches.
Globalization and free trade do spur economic growth, and they lead to lower prices on many goods.
Change can be frightening, and the temptation is often to resist it. But change almost always provides opportunities - to learn new things, to rethink tired processes, and to improve the way we work.
Economics is not an exact science. It's a combination of an art and elements of science. And that's almost the first and last lesson to be learned about economics: that in my judgment, we are not converging toward exactitude, but we're improving our data bases and our ways of reasoning about them.
Any intelligent fool can make things bigger and more complex... It takes a touch of genius - and a lot of courage to move in the opposite direction.
E. F. Schumacher
Finance is not merely about making money. It's about achieving our deep goals and protecting the fruits of our labor. It's about stewardship and, therefore, about achieving the good society.
Robert J. Shiller
The power of population is indefinitely greater than the power in the earth to produce subsistence for man.
Start with the idea that you can't repeal the laws of economics. Even if they are inconvenient.
Government is the great fiction, through which everybody endeavors to live at the expense of everybody else.
Conspicuous consumption of valuable goods is a means of reputability to the gentleman of leisure.
I was born in Chicago in 1927, the only child of Morris and Mildred Markowitz, who owned a small grocery store. We lived in a nice apartment, always had enough to eat, and I had my own room. I never was aware of the Great Depression.
What we call creative work, ought not to be called work at all, because it isn't. I imagine that Thomas Edison never did a day's work in his last fifty years.
There can be no rise in the value of labour without a fall of profits.
Capital is that part of wealth which is devoted to obtaining further wealth.
Making money is a happiness. And that's a great incentive. Making other people happy is a super-happiness.
Sovereignty must not be used for inflicting harm on anyone, whether citizen or foreigner.
Ludwig von Mises
Self-control, openness, the ability to engage with others, to plan and to persist - these are the attributes that get people in the door and on the job, and lead to productive lives.
One week before my 17th birthday, I had a blind date with June Rose, a television actress on network soap operas, a model, and a regular on the popular Dick Clark's Saturday night 'American Bandstand' show from New York. We were married five years later, one week after my graduation from Columbia.
Robert C. Merton
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